Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

Thursday, December 3, 2009

SEC's Schapiro Addresses Consumer Federation of America Conference

SEC Chairman Mary Schapiro spoke on "The Consumer in the Financial Services Revolution" at the Consumer Federation of America 21st Annual Financial Services Conference today in Washington D.C. Questions she addressed in her remarks:

Does the investor make a distinction between brokers and investment advisers, the way the law does?

Does the investor get the relevant, simple and comparable information at the point of sale or recommendation, or only after the sale has occurred, if at all?

Does the investor know about all the fees they are being charged and whether they are getting the services they are being charged for?

And, does the investor appreciate the nuances of retirement investments and products?

Of course we know the answers to those questions.  What we want to know is what the SEC is going to do to improve the investment decision-making process for retail investors.  Ms. Schapiro goes on to address SEC initiatives.

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