Prepared Remarks before the Investor Advisory Committee
· Gary Gensler, Chair of the U.S. Securities and Exchange Commission (United States)
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GG · Gary Gensler Wiki · U.S. Securities and Exchange Commission WikiPrepared Remarks before the Investor Advisory CommitteeContextSpeech by Gary Gensler, Chair of the U.S. Securities and Exchange Commission.
Why it mattersGensler argues that disclosure alone does not remove conflicts in financial advice.
Problems raised- Firms may put their interests ahead of investors.
- Disclosure alone does not remove a conflict.
- Complex products carry unique risks.
Solutions proposed- Require firms to identify and address conflicts.
- Keep the duty to act in investors' best interest.
- Help investors understand complex products.
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