FSI Applauds House Financial Services Committee Passage of Critical Bills

WASHINGTON, D.C. – The Financial Services Institute (FSI) applauded the House Financial Services Committee for passing three important bills: H.R. 3758: Senior Safe Act of 2017, H.R. 3857: PASS Act of 2017, H.R. 3973: Market Data Protection Act of 2017.

“Protecting Main Street Americans’ financial security and personal information while ensuring they maintain access to affordable, objective financial advice is a top priority for FSI,” said FSI President & CEO Dale Brown. “The Senior Safe Act is a critical step in preventing elder financial abuse nationwide. It allows financial professionals to report abuse to government organizations, without violating privacy laws, as well as standardizes training to help identify and report instances of suspected abuse. The PASS Act paves the way for a best interest standard for financial advice created by the SEC, something we have long supported, while ensuring investors continue to have access to affordable, objective financial advice as well as a wide array of products and services to assist them in saving for a secure retirement. Now more than ever, cybersecurity and the protection of personal information is of utmost importance. The Market Data Protection Act will help protect investors’ personal information from falling victim to the next cybersecurity breach. We strongly encourage the full House of Representatives to bring these bills to a vote and pass them quickly.”

About the Financial Services Institute (FSI): The Financial Services Institute (FSI) is the only organization advocating solely on behalf of independent financial advisors and independent financial services firms. Since 2004, through advocacy, education and public awareness, FSI has successfully promoted a more responsible regulatory environment for more than 100 independent financial services firm members and their 160,000+ affiliated financial advisors – which comprise over 60% of all producing registered representatives. We effect change through involvement in FINRA governance as well as constructive engagement in the regulatory and legislative processes, working to create a healthier regulatory environment for our members so they can provide affordable, objective advice to hard-working Main Street Americans. For more information, please visit financialservices.org.