In the Margins

SEC nominee 'quite worried' about DoL fiduciary rule

March 16, 2016

By InvestmentNews

Hester Peirce, a nominee to become a Securities and Exchange Commission member, expressed concern Tuesday that the agency has not had appropriate input into the Department of Labor Department fiduciary rule. In a confirmation hearing before the Senate Banking Committee, Peirce said she hasn't had a chance to read the DoL measure but is uneasy about the way it was put together. “I'm quite worried about the Department of Labor's proposal in part because I've heard that the SEC's input wasn't considered,” she said in response to a question from Sen. Tim Scott, R-S.C. Read the original story from InvestmentNews.