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Labor Department's Common Sense Fiduciary Rule Survives the House of Representatives
Economic Policy InstituteLink to more items from this source
Dec. 17, 2015

"This rule would seem to be a no-brainer, but the industry makes billions of dollars from conflicted advice, and it's used to getting its way. So the outcome of its efforts to kill the fiduciary rule was uncertain until [December 15], when it was revealed that an amendment to block the fiduciary rule was left out of the House omnibus appropriations bill. In essence, the opponents of the fiduciary rule want to preserve a system that allows financial advisers to give their clients advice that is in the adviser's interest rather than the client's."

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