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DOL, SEC fiduciary rules may diverge, Mary Jo White tells lawmakers

March 23, 2016

BY MARK SCHOEFF JR. | | UPDATED

Securities and Exchange Commission Chairwoman Mary Jo White told lawmakers Tuesday that if the agency proposes a rule to raise investment advice standards, it may not mesh perfectly with a separate Labor Department rule that will soon be finalized.

Republican lawmakers at a House Appropriations subcommittee hearing on the SEC budget expressed concerns about the DOL fiduciary rule and how it would operate with a similar SEC rule, if the agency acts on the authority provided by the Dodd-Frank Wall Street Reform and Consumer Protection Act to promulgate such a regulation.

Rep. Mark Amodei, R-Nev., asserted that there would be confusion, as financial advisers try to comply with one rule from DOL and one from the SEC.

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Gregory De Jong, CFP, Co-Founder of Paragon Advisors, LLC.
July 7, 2015

Blue Vault is just what advisors need to size up the different offerings in the nontraded REIT market. Just as importantly, it’s what the industry needs to encourage best practices among REITs.