FSI Statement on Clayton Confirmation for SEC Chair

May 2, 2017

WASHINGTON, D.C. – Today, David Bellaire, EVP & General Counsel of the Financial Services Institute (FSI), released the following statement following the United States Senate’s vote to confirm Jay Clayton as the next Chair of the Securities and Exchange Commission:

“With much critical work facing the SEC, we are pleased that Mr. Clayton will soon take the helm, and look forward to speaking with him about our members’ unique concerns. We have always believed the top priority of the SEC should be protecting investors. Adopting a true, uniform fiduciary duty that protects investors and their access to affordable, objective financial advice must finally be given the serious attention it deserves.”

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.