President Trump: Halt DOL fiduciary rule, Dodd-Frank now
February 3, 2017 by Melanie Waddell
President Donald Trump is expected to sign a directive Friday telling the Department of Labor to halt implementation of its fiduciary rule, which is set to take effect April 10. Another executive action to be issued simultaneously will roll back the Dodd-Frank Wall Street Reform and Consumer Protection Act.
Trump will order DOL to review and defer implementation of its fiduciary rule.
White House National Economic Council Advisor Gary Cohn said on CNBC that he doesn’t “think you protect investors by limiting choices; you need to give them [investors] the proper sources to accumulate wealth.”
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