In the Margins

House committee: Repeal, replace DoL fiduciary rule

July 20, 2017

By InvestmentNews

In a party line vote, the House Education and the Workforce Committee approved legislation on Wednesday that would kill the Labor Department fiduciary rule and replace it with an advice standard based on disclosure. The DOL regulation "is completely unworkable and so complicated and burdensome that it will cause millions of Americans to lose access to their trusted advisers," said Rep. Virgina Foxx (R-N.C.) and chairwoman of the committee. Her arguments echoed those of financial industry opponents of the rule. Read the original story from InvestmentNews.

 

 

Most Read

10 Things
10 Things...to read in summer 2024

It's the Summer Solstice, and that means that for most of us the sun is shining, temperatures are heating up, and longer days allow for pursuits ...

Top of the Agenda - Compensation
Fund board pay increases in 2023, MPI survey says

Independent mutual fund directors saw an increase in compensation in 2023, on average, although actual compensation levels and percentage adjustments in compensation continue to vary widely ...