Maloney Statement on SEC’s Final Regulation Best Interest Rule

Jun 5, 2019
Press Release

Congresswoman Carolyn B. Maloney (D-NY), Chair of the House Financial Services Subcommittee on Investor Protection, Entrepreneurship, and Capital Markets, released the following statement after the Securities and Exchange Commission’s (SEC) announcing its final rule on Regulation Best Interest which weakens protections for investors.

“This rule is a wolf in sheep’s clothing — it pretends to strengthen protections for investors, but it actually weakens them. It’s worse than the status quo, and I’m deeply disappointed that the SEC would violate its statutory duty to protect investors by passing this rule.”