The agency next week will consider changes to the process by which it tries enforcement cases before in-house judges.
The Massachusetts senator and Rep. Elijah Cummings, D-Md., assert four large insurance companies are telling regulators and shareholders different tales.
Organizations opposed to the fiduciary rule invested more in Capitol Hill outreach efforts last year, trying to convince Congress to stop the measure.
Agency to lean more heavily on Finra as SEC shifts some of its own resources toward registered investment advisers.
The measures, which affect 401(k) and IRA limits and beneficiary withdrawals, have been proposed in previous budgets to no avail, but still worry financial industry groups.
While the House has been active considering similar legislation, this marks the first time the Senate is jumping into the fray.
The two bills would require Congress to approve the rule. Fight on a best-interests standard is now split straight down party lines.
Experts think the top candidates will have SEC experience.
Though fines dropped last year, experts think the regulator's revised sanctions guidelines will mean an upward trend in penalties as well.
