IAA Alert: May 3, 2017 - IAA Congratulates New SEC Chair on Confirmation


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IAA Congratulates New SEC Chair on Confirmation

May 3, 2017: The IAA congratulates Jay Clayton on his confirmation last evening as Chair of the Securities and Exchange Commission. We look forward to meeting with the new Chair to discuss regulatory issues impacting investment advisers – and we look forward to working with Mr. Clayton and his fellow Commissioners as they pursue the SEC’s mission of strengthening U.S. markets and protecting investors.

The IAA plans to engage with Mr. Clayton on a range of issues important to advisers, including SEC oversight, fiduciary duty, and our recommendations for a retrospective review of rules relating to: the impact of regulations on smaller advisers; modernizing the advertising rule, including reconsideration of its testimonial and past-specific recommendation bans; clarification and revision of the needlessly complex strict liability provisions of the custody and pay-to-play rules; and facilitating electronic delivery of required disclosures. We will also suggest that the Commission more effectively promote capital formation by reassessing certain rules relating to private offerings. Further, the IAA plans to acquaint Mr. Clayton with our views on pending rule proposals – including the SEC’s proposal on business continuity and transition planning and on derivatives.

In addition to engaging with the SEC and other regulators on important policy matters, the IAA continues to advance investment advisers’ interests on Capitol Hill. Please join us in Washington, D.C. on Wednesday, June 7 for the 10th Annual IAA Lobbying Day – and on the evening of June 6 for a dinner and reception hosted by the IAA Board of Governors, with nationally known political and economic strategist Greg Valliere as featured speaker. There is no cost to participate, but advance registration is required. More information and online registration is available here.

With a new Administration, a new Congress, new regulators and a new focus on financial services regulation, issues vital to investment advisers will be addressed by Washington policymakers in the months ahead. And that makes this a crucial time for investment advisers to make their voices heard, particularly on Capitol Hill. Our message is more powerful and more effective when we join our voices together.

IAA members can visit the IAA Alert page in the Members Only section of our website or contact staff for more information.

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