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SEC Chair Has Concerns with Two House Bills Under Consideration

“SEC Chairman Mary Jo White wrote to the heads of the House Financial Services Committee yesterday to express her opposition to two bills that the panel is currently marking up.

The first would exempt certain private equity fund advisers from registering with the agency. The second would prevent the Department of Labor from issuing its fiduciary rule until 60 days after the SEC has released its broker-dealer fiduciary rule and also places additional requirements on how the agency drafts the rule.