Harris, associate professor of finance and chair of the department, spoke with reporter Lauren Ohnesorge for the article on how the pace of rulemaking by the SEC could impact financial advisors.
Financial advisors are pushing back against the rapid pace of rulemaking by the SEC, noting that new proposals are costing money and headaches in an industry that is already heavily regulated, according to a recent Triad Business Journal article.
Chris Harris, chair of the Department of Finance at Elon and director of the Center for Financial Literacy, offered his insights into the push for more regulation, telling Triangle Business Journal reporter Lauren Ohnesorge that “would always do wonder well, every time they make a new rule, what’s this going go require now — what’s the cost and time, and is it actually solving the problem that’s existing?”
Along with serving as a faculty member at Elon, Harris is also a financial advisor, and says he supports the efforts by the SEC to protect clients, but that the commission may generate more support for proposals by better explaining why they are necessary.
“Most people don’t mind wearing a seatbelt when they understand what can happen if they don’t have it on,” Harris said.
Read more at the Triangle Business Journal.