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DOL fiduciary rule not yet caught up in Trump maelstrom

January 31, 2017

DOL fiduciary rule not yet caught up in Trump maelstrom

Speculation mounts as to what is taking administration so long to act

Jan 31, 2017 @ 1:07 pm | by Mark Schoeff Jr. | InvestmentNews.com

President Donald Trump has been the disrupter that he promised to be.

He is signing executive orders at a pace that makes former President Obama look desultory. His latest ones — on immigration and the makeup of the National Security Council — have sparked nationwide protests and bipartisan consternation on Capitol Hill.

But what Mr. Trump has not touched — so far — in this maelstrom is a Labor Department regulation that would raise investment-advice standards for retirement accounts.

When Mr. Trump was inaugurated, the financial industry had high hopes that delaying the DOL rule would be one of the first items that the new president addressed. It’s now Day 10, and we haven’t seen anything.

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Gordon Dunne
September 30, 2019

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