Bipartisan State Treasurers Urge No Change To Fiduciary Rule

Law360, New York (June 15, 2017, 3:18 PM EDT) -- Thirteen Democratic and Republican state treasurers have urged U.S. Labor Secretary Alexander Acosta not to roll back the Obama administration’s rule to make retirement advisers put their clients’ interests before their own, calling the measure “essential” to protect investors.

Acosta told Congress earlier this month that there was no reason to delay the so-called fiduciary rule any longer, but said the White House would soon move forward with a review of the rule. The regulation compels advisers to suggest investments that are in their clients’ best...
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