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Three Former SEC Chairmen Call for Agency to Adopt Fiduciary Rule
Pensions & InvestmentsLink to more items from this source
Oct. 7, 2015

" 'It doesn't matter what you are called; it matters what you do,' said Harvey Pitt, who led the agency from 2001 to 2003. 'If people are giving advice, they should be held to the same standards. What we really need is just an overarching standard.' ... The officials noted that while the [DOL] is developing its own updated fiduciary standard, a similar SEC effort first discussed in 2008 'is harder than perhaps it ought to be,' said Christopher Cox, whose tenure ran from 2005 to 2009. 'There are enormous interests at stake here.' "

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