WASHINGTON, D.C. — U.S. Chamber Center for Capital Markets Competitiveness President and CEO David Hirschmann issued the following statement in response to today’s open meeting of the Securities and Exchange Commission (SEC):
“We appreciate the efforts of the SEC that led to these proposals for a best-interest standard for all investors.
“Americans investing for their future will be best served if the proposals achieve four goals: effective investor protection, clarity across all types of accounts and relationships, access to a full range of investment choices, and expanded opportunities to learn how to invest and save. This package of proposals has the potential to be a real win for all types of investors, from the young family starting to invest for the future to an older investor approaching retirement.
“We will evaluate the proposals carefully, and we look forward to working with the SEC to achieve a final outcome that provides clarity, choice, opportunity, and protection for all investors, regardless of what type of investment account they have or how much they can afford to invest.”