Fiduciary Rule in Jeopardy Under Trump
From the Desk of Jim Eccleston at Eccleston Law LLC:
Could President-elect Trump put a halt to the Department of Labor’s fiduciary regulation?
There is no doubt that Trump has stated his opposition to most of Obama's policies and the Trump campaign website says that it would put a moratorium on new regulations. However, Trump has not specifically discussed his stance on the new DOL fiduciary regulation supported by the Obama Administration.
In preparation for the new regulation to go into effect early next year, many brokerage and advisory firms have been spending heavily to prepare their systems and advisers for it. For instance, Merrill Lynch is planning on ceasing its offering of commission-based IRAs in order to comply with the rule.
Of course, campaign promises are often put to the side once a president has to govern and the stakes become much different.
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Related Attorneys: James J. Eccleston
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