Bill to kill fiduciary rule heads for full congressional vote

July 16, 2024 by Doug Bailey

A bill to kill the Biden Administration’s new fiduciary rule is headed for a full vote in Congress after two committees this week resoundingly approved it. But the rule, intended to clarify when financial professionals must act in the best interest of their clients, may die regardless of what legislators decide, thanks to the Supreme Court.

In April, the U.S. Department of Labor published the Retirement Security Rule redefining who qualifies as a fiduciary under the Employee Retirement Income Security Act.

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Originally Posted at InsuranceNewsNet on July 11, 2024 by Doug Bailey.