Regulatory Outlook | 08.11.20
Democrats Slam Trump, DOL’s Fiduciary Stance
A roster of high-ranking and high-profile Democrats sent the Trump Administration a sternly-worded letter opposing the DOL’s stance on fiduciary-related issues. The signers included Senator Patty Murray and Congresswoman Maxine Waters, as well as Senators Kamala Harris, Elizabeth Warren, Bernie Sanders, and 24 others. Claiming the DOL’s rules “help financial advisors evade their responsibility to clients,” the group said the rules will leave hardworking retirement savers at risk and without any meaningful remedies when they have been harmed.
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