United States:
Fiduciary Rule In Limbo Under President Trump, Experts Say
22 November 2016
Kramer Levin Naftalis & Frankel LLP
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President-elect Donald Trump's campaign strategists have
said he will repeal the federal rule that requires
retirement investment advisers to abide by a fiduciary standard to
put their clients' best interest before their own profits.
However, experts say that's unlikely to happen in the
short-term or potentially ever, suggesting the rule is well down on
the President-elect's list of priorities. The Labor
Department's fiduciary rule goes into effect April 10, 2017 and
firms are already changing the way they'll do business with
their clients who own retirement accounts.
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