Clayton says disclosure sufficiently mitigates some conflicts under Reg BI

March 26, 2019

Securities and Exchange Commission chairman Jay Clayton said brokers' disclosure of conflicts of interest would sufficiently address some of them under a measure to raise investment advice standards.

The agency's proposed Regulation Best Interest would require brokers to identify and mitigate conflicts. But there is confusion about whether disclosure or mitigation is more important.

Fi360's president, Matt Wolniewicz, takes a firm position.

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