West Loop Financial LLCThe Meritless Assault on the DOL’s Fiduciary Rule – West Loop Financial LLC https://www.westloopfinancial.com Evolutionize Site Wed, 19 Aug 2020 20:50:49 +0000 en-US hourly 1 https://wordpress.org/?v=5.1.22 The Meritless Assault on the DOL’s Fiduciary Rule https://www.westloopfinancial.com/2015/08/24/the-meritless-assault-on-the-dols-fiduciary-rule/ https://www.westloopfinancial.com/2015/08/24/the-meritless-assault-on-the-dols-fiduciary-rule/#respond Mon, 24 Aug 2015 09:00:27 +0000 http://evolvemypractice.com/?p=2169 The assault on the fiduciary rule proposed by the U.S. Department of Labor (DOL) has intensified. Republicans from the House Committee on Education and the Workforce recently asked Labor Secretary Thomas Perez to “immediately withdraw” the rule. Why? Because they believe it will “reduce investment options and increase costs for retirement savers.” The Financial Industry...

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]]> The assault on the fiduciary rule proposed by the U.S. Department of Labor (DOL) has intensified. Republicans from the House Committee on Education and the Workforce recently asked Labor Secretary Thomas Perez to “immediately withdraw” the rule. Why? Because they believe it will “reduce investment options and increase costs for retirement savers.”

The Financial Industry Regulatory Authority (FINRA), a not-for-profit organization authorized by Congress “to protect America’s investors by making sure the securities industry operates fairly and honestly,” piled on. In its comment letter, FINRA told the DOL that the proposed rule will cause broker-dealers to abandon small accounts, among other issues.

Read the rest of the article at The Huffington Post.

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