Business

SEC member’s vote doesn’t match image

Aguilar thwarted effort to tighten rules for fund

WASHINGTON — Luis A. Aguilar, one of five members of the Securities and Exchange Commission, is generally known as one of the commission’s strongest advocates for tougher oversight of the securities industry. In public statements this year, he has pushed the SEC to be more aggressive, contending the commission was not protecting investors assiduously enough.

But last week, Aguilar derailed one of the most significant current efforts to tighten regulations on the financial industry.

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