While many in the industry are applauding Securities and Exchange Commission Chairwoman Mary Jo White’s recent declaration that she will push to ensure the agency extends a fiduciary rule for brokers, concerns remain that such a rule will be a long time in the making—and may not even happen at all.

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Dennis Kelleher, president and CEO of Better Markets, applauded White’s public stance in her remarks at the SIFMA event that the SEC and DOL “have different statutes, missions and jurisdictions, and that it is important for both agencies to act on their separate mandates.”

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Read the full ThinkAdvisor story by Melanie Waddell here.