ACA InsightFeatures Comments from Investment Management Counsel on the SEC’s 2017 Budget

ACA Insight's latest newsletter provides an overview of SEC chair Mary Jo White's March 22 testimony before Congress on the SEC's 2017 budget. Increased oversight and enforcement, as well as harnessing technology to further these goals are areas she advocates focus on with the proposed $1.78 billion. This is “consistent with past years,” states investment management counsel David Tittsworth (Washington, D.C.). During the hearing Chair White was also questioned by Congress on looming fiduciary rule. In the article, Mr. Tittsworth also outlined that White has “indicated that she is working to obtain a consensus among other SEC Commissioners,” adding that should the SEC propose its own fiduciary rule, this would vary from the DOL’s since “the statutory mandates of the SEC and the DOL differ.”