SIFMA's Campaign Against FPA v. SEC

SIFMA (the trade association previously known as the Securities Industry Association) is putting pressure on the SEC to seek rehearing of FPA v. SEC, the D.C. Circuit's invalidation of the SEC rule exempting brokers that offer fee-based accounts from regulation as investment advisers.  It released a survey of investors showing that investors prefer choice of investment options instead of being forced into "cookie-cutter" accounts.  See SIFMA, Poll: Investors Value Choice FPA Lawsuit Could Limit Consumer Options.