Investment Management Counsel David Tittsworth Discusses Potential Impacts of the Midterm Elections on the Fund Industry in Compliance Reporter

In The News
October 17, 2018

An article published by Compliance Reporter on Oct. 17 titled “How the midterm elections could impact the fund industry” examines how the midterm elections could impact the fund industry. Insights from investment management counsel David Tittsworth are included in the piece. “I don’t think you’d see much of a difference with a Democrat-held House because Senate rules generally requires 60 votes on most legislation so if the Republicans keep the Senate, which most experts predict, than you would require 60 votes in the Senate to get actual legislation passed, which is a pretty big hurdle,” said Mr. Tittsworth in the article. Mr. Tittsworth notes in the piece that there is a chance the commission could try to pass Reg. BI before the new Congress, leaving Democrats with no recourse to override the regulation short of a law passing both chambers in bipartisan fashion. “So you can blow a lot of dust in the air instead, through oversight, writing letters and making speeches saying Jay Clayton is in the hands of the broker-dealer industry and doesn’t care about investors at all,” Tittsworth added.