"A White House announcement of the so-called fiduciary rules is expected to generate significant pushback from Wall Street, which says it already faces robust regulation and warns the rules' likely costs could make it uneconomical for brokers to serve lower-balance accounts. It likely would take several additional months for the Labor Department, which is drafting the rules, to collect public feedback before it can move to implement the rules. The administration is concerned investors aren't aware that brokers benefit financially by selling products that may not be in a client's best interest but still rise to the lower standard of being suitable investments."

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