Financial Industry Groups Fear Trump Will Block Investor Protection Rule
The financial services industry is hopeful that President Trump will move to delay and perhaps overturn an investor protection rule put in place by the Obama administration. The rule requires that financial advisers act in their clients best interest when it comes to their retirement accounts. It has been widely supported by consumer groups, unions and financial watchdogs. The financial industry lobbied against the rule saying it would have unintended consequences and created too much paperwork to make it worth it for advisers to work with small clients.
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