Finance, insurance groups react to Trump’s executive orders
February 7, 2017 by ELANA ASHANTI JEFFERSON
Retirement advisors and insurance agents have long known that shifting political winds in the U.S. federal government would continue to affect their businesses and processes.
Many in the finance industry supported Donald Trump for president expressly because they hoped for the type of decisive action that arrived Friday in the form of Presidential Executive Order on Core Principles for Regulating the United States Financial System and the Presidential Memorandum on Fiduciary Duty Rule.
Both orders instruct the corresponding regulatory agencies to review and possibly revise or repeal the U.S. Department of Labor fiduciary rule, an effort to protect consumers from predatory financial advice that is currently set to take effect in April, as well as the Dodd-Frank Wall Street Reform and Consumer Protection Act, which was signed into law in the wake of the financial crisis that hit from 2007 to 2009.
Click HERE to view the full article via LifeHealthPro; free registration