The Other Securities Regulator: A Case Study in Regulatory Damage

Article by Anita K. Krug

Focusing on the Securities Exchange Commission and the Department of Labor, this Article examines the special concerns that arise when regulatory authority is shared. This Article shows that the DOL’s fiduciary rule designating securities brokers who provide investment advice to retirement investors as fiduciaries subject to ERISA’s stringent transaction prohibitions imperils retirement investors in ways that are not immediately evident. This Article delves into the lessons arising from this episode and how policymakers might better promote regulatory objectives and policy going forward.

About the Author

Interim Toni Rembe Dean and Professor of Law, University of Washington School of Law.


92 Tul. L. Rev. 339 (2017)