Securities and Exchange Commission Chairman Jay Clayton on Tuesday signaled that the agency is moving ahead on a coordinated fiduciary rule with the Department of Labor.
Sen. Jerry Moran, R-Kansas, told Clayton during the Tuesday hearing held by the Senate Appropriations Committee’s Subcommittee on Financial Services and General Government regarding the agency’s fiscal 2018 budget that he’s “worried there’s a lack of regulatory harmonization occurring” between the SEC and Labor regarding a fiduciary rule, and asked Clayton for any updates regarding the SEC’s “actions to sort of catch up with the Department of Labor when it comes to the fiduciary duty rule.”
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