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SEC Official Calls White House Memo on Broker Rules 'Propaganda'
BloombergLink to more items from this source
Feb. 22, 2015
"SEC Commissioner Daniel Gallagher blasted a recent memo by White House advisers that said abusive trading practices cost workers billions of dollars in retirement savings. The document favors a [DOL] plan to require brokers to act in the customer's best interest, even when that limits commissions or fees.... 'The White House memo is thinly-veiled propaganda designed to generate support for a widely unpopular rulemaking,' Gallagher said at the annual SEC Speaks conference in Washington."

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