In Compliance Reporter, Management Counsel David Tittsworth Discusses Rep. Maxine Waters’ Nomination to Chair the House Financial Services Committee

A Compliance Reporter article published on Dec. 11 titled “With Waters poised to take over House committee, Reg. Bl scrutiny expected” reports that Rep. Maxine Waters has been nominated to chair the House Financial Services Committee in the next Congress, a move which is likely to increase congressional pressure on the SEC’s recently proposed Regulation Best Interest. Insights from investment management counsel David Tittsworth are included in the piece. "It is pretty clear that Maxine Waters and a number of the democrats, including [Rep. Carolyn Maloney CD-NY)], would favor broker-dealer standards raised to a fiduciary level and clear and concise disclosures to consumers about what a B-D and IA are, what their standards of care are, and what it will cost to hire either," Mr. Tittsworth outlines in the article.