Financial Choice Act to Be Reintroduced by End of April
Latest iteration of Choice Act still requires DOL to promulgate fiduciary rule similar to SEC’s
April 12, 2017 | by Melanie Waddell | ThinkAdvisor
Rep. Jeb Hensarling’s Financial Choice Act, which seeks to gut the Dodd-Frank Act and is set for release by the end of April, still requires that if the Labor Department promulgates a fiduciary rule, “it must be substantially similar” to one issued by the Securities and Exchange Commission.
Hensarling announced Tuesday his plan to reintroduce his Choice Act in a matter of weeks, stating in a comment provided by a spokesperson that he looks forward to “working with the president and his administration to eliminate Dodd-Frank and replace it” with the Choice Act 2.0.
On March 15, Hensarling said reintroduction of the bill would come in a matter of weeks.
