[ by C-I Staff ]

Ira Hammerman, SIFMA's Senior Managing Director and General Counsel, expressed the following reaction to Friday's  SEC request for data and other information to help the agency consider whether to write new rules implementing a uniform fiduciary standard of conduct for brokers and investment advisers:

"We welcome the SEC’s continued focus on this important issue for individual retail investors. We’ve long supported a uniform fiduciary standard of care for brokers and investment advisers who provide personalized investment advice to individual retail investors.  We’ve been expecting the SEC to move in such a fashion, and we believe that gathering further data and is the appropriate next step forward. We look forward to reviewing the request carefully, discussing it with our members, and submitting our comments in response." -- Ira Hammerman, senior managing director and general counsel.

For further details, go to [SIFMA, 3/1/13].