House panel OKs bill restricting DOL fiduciary standard

A bill to limit the Department of Labor's power to adopt a fiduciary standard for financial advisers and brokers has been approved by the House Financial Services Committee. The measure would bar the Labor Department from proposing broadening the definition of "fiduciary" until 60 days after the Securities and Exchange Commission proposes a fiduciary rule governing advice given to retail investors. Learn more at SIFMA's DOL Fiduciary Standard Resource Center.

View Full Article in:

InvestmentNews (free registration) · Bloomberg · Financial Advisor online

Published in Brief: