SIFMA CEO Bentsen on SEC's Regulation of Brokers

The video discusses the differences between the SEC's proposal and the Department of Labor's fiduciary rule, highlighting the broader scope of the SEC's approach, which applies to all retail investment accounts. The industry generally supports the SEC proposal, though some modifications are suggested. SEC Chairman Clayton prioritizes closing regulatory gaps to protect investors. The video emphasizes the need for clear rules to ensure brokers act in the best interest of clients and to address potential abuses in the industry.

Why is it important for the SEC to clarify the rules for brokers?

What are the potential benefits of the SEC's proposal for retail investors?

How does the SEC's proposal address the issue of bad actors in the financial industry?