Securities and Exchange Commission Chairwoman Mary Jo White said Friday that she would speak about her position regarding a rule to put brokers under a fiduciary mandate “in the short term,” stating that it remains a priority of hers “to get the Commission in a position to make that decision” on such a rule.
White made her comments regarding a fiduciary rulemaking to reporters after her remarks at the Practising Law Institute’s SEC Speaks conference in Washington.
White had said in November that she would provide more “clarity” as to her position regarding a uniform fiduciary rule in the “short term,” despite the fact that the agency has not yet decided “whether to do something or what to do” regarding such a rulemaking.
Dodd-Frank mandated rulemakings ranked first among the priorities White cited in her remarks to attendees.
When asked why the delay in providing her stance on a fiduciary rulemaking, White said that such a rule is “a very important area that is complex and needs to be considered very carefully.”
Such a rulemaking is “a priority and it’s been a priority of mine,” White said. “I’ve been working very hard with the [SEC] staff on it.”