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Expect Close Monitoring During Fiduciary Rule Implementation
On Wall Street Link to more items from this source
Apr. 7, 2016

"The [DOL] will closely monitor the rule as it is implemented, 'and if we think there is some continued abuse that hasn't been adequately addressed, we'll figure out what to do,' [said] Timothy Hauser, a deputy assistant labor secretary ... 'It's a very complicated marketplace, so we are going to deal with whatever problems [that arise] as they come up.... By the same token, if we see that there's something in the rule that is having an unintended consequence, we are going to look to deal with that, too.' Hauser's comments came in response to concern from some quarters that the department caved to pressure from the industry on key issues."

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