WASHINGTON -- Mary Jo White, President Obama's nominee to chair the SEC, faced little resistance at a Senate confirmation hearing on Tuesday as she told members of the banking committee that, if confirmed, she intends to move swiftly to close the book on an array of open rules that advisors have been watching closely.
For advisors, White's nomination to take over the SEC is the more consequential of the two pending appointments. On Tuesday, she left little doubt that if she wins Senate approval she will move swiftly to finalize open rulemaking proceedings, including the proposal for a uniform fiduciary standard, and continue efforts to beef up enforcement activities to root out bad actors and strengthen investor protections.
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