S.E.C. Pressed On Unfinished Dodd-Frank Conflict of Interest Rule
Sen. Jeff Merkley (D-Ore.) hit out at the Securities and Exchange Commission for dawdling on a conflict of interest rule it was ordered to implement by the Dodd-Frank Act. Merkley pressed SEC Chair Mary Jo White on Tuesday, asking about the state of the regulation before a Senate Bakning Committee oversight hearing. “Here we are six years later,” he said, referring to the timing of Dodd-Frank’s passage. “We don’t even have a draft rule.” White replied, calling the proposal “enormously important,” but said the matter was…