The Securities Law Program at Catholic Law hosted a discussion on the evolving state and federal status of a best interest standard for broker-dealer and investment advisers entitled, Muddy Waters Clearing Up. The event featured the Honorable Phyllis C. Borzi '78, former Assistant Secretary, Department of Labor, and member of the Catholic Law Board of Visitors and Carl Wilkerson '78, Vice President and Chief Counsel-Securities, American Council of Life Insurers (ACLI). The program opened with a welcome from Professor David Lipton, Director of the Securities Law Program, who gave a brief overview of the two speakers' background.

Wilkerson opened the discussion with a history of the best interest standard for broker-dealer and investment advisers. He was followed by Borzi, who talked about where things are now. The discussion shifted into the different views on the standard by the Employee Retirement Income Security Act, ERISA; the Securities Exchange Commission, SEC; and the investment industry in general. The program closed with what might be next for the standard.

The discussion continued in the atrium, where the students in attendance were able to talk to both speakers at a reception.