Elizabeth Warren (D-MA), Tammy Baldwin (D-WI), Sherrod Brown (D-OH), Mark Pocan (D-WI) and Pramila Jayapal (D-WA) introduced a bill to govern the private funds that engage in change in control transactions.
At a hearing before the House Financial Services Subcommittee on Capital Markets, Securities, and Investment, several industry groups called for repeal of the DOL Fiduciary Rule and expressed support for a proposed "standards of conduct" bill.
SIFMA expressed its general support for the adoption of H.R. 1090 ("Retail Investor Protection Act"). The act would require the SEC (rather than the Department of Labor) to take the first action in establishing a uniform fiduciary standard.
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