SEC Plan on Broker Rules Has Both Sides Cheering, Jockeying
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When U.S. Securities and Exchange Commission Chair Mary Jo White backed tighter rules for brokers last week, her words were greeted with cheers, oddly, by both supporters and opponents of the controversial plan.
The rare consensus underscores just how little anyone knows, so far, about how any rule might look. Still, even before the details are out, White’s move to insert the agency into the debate has given ammunition to both Wall Street firms and consumer groups in the biggest financial policy battle in Washington.