Center for American Progress

Donate

Center for American Progress

SEC should follow the Labor Department’s fiduciary standard
In the News

SEC should follow the Labor Department’s fiduciary standard

Authors Joe Valenti and Andy Green argue that the SEC should enforce the fiduciary standard to secure Americans' retirement.

Last month at the Economic Club of New York, Securities and Exchange Commission Chairman Jay Clayton articulated a set of eight principles for the agency moving forward. He poignantly placed one question front and center under principle #2: “How does what we propose to do affect the long-term interests of Mr. and Ms. 401(k)?”

It’s a question the SEC should take seriously as, at Clayton’s direction, it reviews public comments on the fiduciary duty of financial professionals to their clients.

The above excerpt was originally published in MarketWatch. Click here to view the full article.

The positions of American Progress, and our policy experts, are independent, and the findings and conclusions presented are those of American Progress alone. A full list of supporters is available here. American Progress would like to acknowledge the many generous supporters who make our work possible.

Authors

Joe Valenti

Director, Consumer Finance

Andy Green

Senior Fellow