They caution that making advisers liable for fraud if they lack such a plan is the wrong way to achieve investor protection goals.
Lawyer representing the two Florida planners was grilled at a hearing on Wednesday over his argument of selective enforcement.
New six-member panel will take input from members regarding concerns about groups that formulate policies affecting planners.
The senator has emerged as an ardent champion of the DOL fiduciary rule and has used congressional hearings to take on Wall Street and industry regulators alike.
New rule to include site information on Form ADV part of evolving regulations on the web tool.
For some advisers who structure their practices so that revenue is reported on their personal income tax returns, Mr. Trump's idea represents a significant tax break.
Regulator: "There is concern that retail customers may not fully understand the risks and the potential impact on their portfolios."
The agency is scrutinizing ETFs because of instances of sharp volatility, and has launched an initiative to evaluate how mutual funds can better inform investors about costs.
He will begin Aug. 15, at about the same time Robert Cook, a former division director at the SEC, takes over as chief executive.
