InvestmentNews: These next-generation leaders are raising their voices and gaining influence over financial advice regulation and legislation
Rep. Trey Hollingsworth, R-Ind., moved to his southern Indiana district from Tennessee in the fall of 2015, and proceeded to win the 2016 Republican primary over several well-established politicians.
Mr. Hollingsworth opposed the Labor Department’s fiduciary rule because he said it would make advice to investors with modest assets too expensive. He has had several meetings with advisers in his southern Indiana district about advice standards, which he calls a topic of “enormous importance to Hoosiers’ financial futures.”
He supports the SEC advice reform proposal and said “making sure we get to a rule that enables financial advisers to serve the smallest investors is really important.”
A former small-business owner, Mr. Hollingsworth put startup funding at the top of his agenda when he joined the House Financial Services Committee. While Republicans controlled the panel in 2017-18, he was the author of bills that would ease regulatory requirements for emerging companies.
“Rep. Hollingsworth is a rising star in Congress on many issues that benefit economic growth and America’s retail investors, including small-business capital formation,” said Christopher Iacovella, chief executive of the American Securities Association.
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