Hester Peirce was a leading voice among the SEC Commissioners supporting the publication of the recent Best Interest Regulation proposal, but still expressed concerns – and she’s going to be at the NAPA DC Fly-In Forum!
Commenting on the mid-April proposals, Peirce, a Republican, expressed concerns “…that the approach we are taking will simply mean a few more pages of unread paper landing in investor trash cans.” She also took issue with the proposals “…unimaginative paper-based default,” and noted that “disclosure overload is also an issue for investors – a problem today’s proposed changes only exacerbate.
“Anyone who endeavors to read all the releases will be daunted by their collective heft. SEC printers are all crying out for new toner cartridges, and lugging our best interest binders around the halls has become a substitute for going to the SEC gym,” she remarked. All joking aside, Peirce cautioned that, “while the length of these releases provides lots of fodder for jokes, it’s a serious matter,” in that the length “makes it difficult for readers to understand what we are proposing, and thus harder for us to elicit comment on key points.”
Appointed by President Trump to the SEC on Jan. 11, 2018, Peirce previously served as Senior Research Fellow and Director of the Financial Markets Working Group (now Program on Financial Regulation) at the Mercatus Center at George Mason University.
While at the Mercatus Center, Peirce’s research explored how financial markets foster economic growth and prosperity and the role regulation plays in protecting investors and consumers while promoting financial stability and innovation.
Peirce is just one of the compelling speakers that delegates to the NAPA DC Fly-In Forum will have an opportunity to hear and interact with at the 2018 NAPA DC Fly-In Forum!
Now in its sixth year, the NAPA DC Fly-In Forum is a convergence of the nation’s elite advisors in Washington, DC for the purpose of engaging with key federal policy makers and advocating for legislative and regulatory policy that affects the industry.
On July 23-25, you’ll not only have the opportunity to be part of a special GAC meeting, but to participate in a unique gathering of the nation’s leading retirement plan advisors.
Apply today at http://napadcflyin.org.