Micah Hauptman is director of investor protection for the Consumer Federation of America, a research, advocacy and education organization.
The Department of Labor’s fiduciary rule, which requires financial professionals who give retirement advice to act in their clients’ best interest, was struck down in a 2018 court challenge. What’s the status of the fiduciary standard now?
It is on the DOL’s regulatory agenda, and we’re waiting for them to repropose it. We don’t know what that rule will look like, but we’re optimistic that it will cover some of the loopholes that exist from the 1975 definition of the fiduciary rule.
Didn’t the Securities and Exchange Commission seek to address this issue by adopting a “best interest” requirement for broker-dealers?
هذه القصة مأخوذة من طبعة June 2023 من Kiplinger's Personal Finance.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة June 2023 من Kiplinger's Personal Finance.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
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