The final rule will be similar to what the SEC proposed in April 2018, but will include changes that benefit financial firms, according to people familiar with the matter.
For instance, brokers probably will get more leeway in how they inform clients of certain conflicts, according to two of the people, who asked not to be named in discussing internal SEC deliberations. A key tweak is that disclosures won’t necessarily have to be in writing, the two people said.
Republican Commissioners Hester Peirce and Elad Roisman are expected to join Clayton in supporting the measure. Investor advocates said Robert Jackson, the lone commissioner in a Democratic seat, will dissent. Representatives for Clayton and Roisman didn’t reply to requests for comment. Representatives Peirce and Jackson declined to comment.
This article was provided by Bloomberg News.