This Is Worse than the Fiduciary Rule
May 17, 2018 by Kerry Pechter
With the Fifth Circuit Court of Appeals’ decision to vacate the Obama fiduciary rule on May 7, the securities, life insurance and retirement industries had effectively thwarted a big threat to their product distribution model. But, based on what I’ve heard at industry conferences, they’re not uniformly satisfied with their victory. That’s no surprise. The Obama Department of Labor was the messenger, not the cause, of industry’s problems.
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