Labor Nominee Would Likely Sit Out Financial-Advice Rule Making
August 14, 2019 by Andrew Ackerman
WASHINGTON—President Trump’s pick to be the next secretary of labor would likely have to sit out the department’s rewrite of a closely watched investment-advice rule if he is confirmed, according to people familiar with the matter.
Eugene Scalia, a Washington lawyer who has helped companies challenge financial rules, previously handled a legal challenge to the Obama administration’s version of the regulation, known as the fiduciary rule. Government ethics rules generally prevent officials from participating in issues they were involved in while in the private sector to guard against potential conflicts of interest.
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