The Consumer Federation of America and Americans for Financial Reform oppose the untitled draft legislation to amend Section 913 of the Dodd-Frank Act that is scheduled to be considered at this week’s legislative hearing in the Capital Markets Subcommittee. The overall effect of the proposed legislation would be to place unreasonable conditions on the Securities and Exchange Commission as it considers whether to raise the standard of conduct that applies to brokers when they give personalized investment advice to retail investors.