SEC’s Clayton says agency is ‘pushing’ toward a fiduciary rule, working with DOL

But there also was bipartisan interest in the SEC’s work on a rule to raise investment advice standards for brokers and its efforts to catch up with the Department of Labor, whose own fiduciary rule for retirement accounts partially went into effect in June. The DOL has proposed delaying the Jan. 1 applicability date for the enforcement mechanisms of the regulation for 18 months, while it conducts a review of the rule directed by President Donald J. Trump that may lead to revisions.

“Everything can’t be a priority. This is a priority for me,” Mr. Clayton said of a potential SEC fiduciary rule. “We’re pushing this one. This is the top of my list in that area [the Division of Investment Management] of the commission.”

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