Treasury encourages DOL to consider fiduciary-rule harm
October 31, 2017 by Mark Schoeff Jr.
A new Treasury Department report outlines potential harm being caused by the Labor Department’s fiduciary rule and tells the agency to keep those consequences in mind while it reviews the regulation.
Administration skepticism about the DOL rule has been evident since President Donald J. Trump in a Feb. 3 memo directed DOL to reassess the measure. Now, that sentiment has been formally recorded in a Treasury paper on the asset management and insurance industries.