An article published yesterday (July 17, 2017) in InvestmentNews, reveals two House panels are poised to launch assaults on the Labor Department's fiduciary rule. One is a vote on a bill to kill Labor's rule and replace it with a disclosure-based best-interest standard, while another will take up legislation to prevent funding for enforcement of the regulation. As it usually plays out, if successful, Wall Street wins and individual investors again lose. Gone will be the newly enacted protections so badly needed in an industry characterized by systemic conflict and greed.
The full InvestmentNews article can be found here.
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