DOL expected to move forward on fiduciary rule proposals

The Department of Labor likely will propose rules as early as October, enforcing an increased standard on brokers and securities professionals advising clients about individual retirement accounts. "We don't think the DOL is moving forward in a way that's going to be constructive at all; it's going to be destructive," said former Sen. Judd Gregg, CEO of SIFMA. "The folks with small accounts are going to lose the ability to get advice, and their costs will go up."

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