SEC chairman nominee Clayton not asked about key adviser issues, reveals no specific plans
President Trump’s choice to head the Securities and Exchange Commission spent most of his confirmation hearing fending off questions about conflicts
March 23, 2017 | by Mark Schoeff Jr. | InvestmentNews.com
After two hours and twenty-five minutes of testimony before the Senate Banking Committee on Thursday, President Donald J. Trump’s nominee to chair the Securities and Exchange Commission, Jay Clayton, remains a blank slate on issues affecting financial advisers.
No lawmaker asked Mr. Clayton about his stance on proposing a fiduciary standard for retail investment advice, which the agency has been mulling since the Dodd-Frank financial reform law authorized it to promulgate such a regulation nearly seven years ago.
Sen. Sherrod Brown, D-Ohio, ranking member of the committee, did briefly mention fiduciary duty during his opening statement.
