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SEC chairman nominee Clayton not asked about key adviser issues, reveals no specific plans

March 23, 2017

SEC chairman nominee Clayton not asked about key adviser issues, reveals no specific plans

President Trump’s choice to head the Securities and Exchange Commission spent most of his confirmation hearing fending off questions about conflicts

March 23, 2017 | by Mark Schoeff Jr. | InvestmentNews.com

After two hours and twenty-five minutes of testimony before the Senate Banking Committee on Thursday, President Donald J. Trump’s nominee to chair the Securities and Exchange Commission, Jay Clayton, remains a blank slate on issues affecting financial advisers.

No lawmaker asked Mr. Clayton about his stance on proposing a fiduciary standard for retail investment advice, which the agency has been mulling since the Dodd-Frank financial reform law authorized it to promulgate such a regulation nearly seven years ago.

Sen. Sherrod Brown, D-Ohio, ranking member of the committee, did briefly mention fiduciary duty during his opening statement.

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Steve Siepak
Blue Vault session at the recent National Planning Holdings National Conference
September 13, 2017

The well-attended Blue Vault session at the recent National Planning Holdings National Conference was very well received. The value of their products was evidenced by the volume of questions from the attendees. Stacy Chitty, Managing Partner, did an excellent job of explaining the history, strategy and value of Blue Vault data.