BLOG: How the SEC advice rule improves on the DOL fiduciary rule
May 29, 2018 by Mark M. Goldberg
The Department of Labor building is a mere 0.7 miles from the Securities and Exchange Commission. I’ve had meetings at both offices many times in the last three years. Some celebrate the 5th Circuit Court of Appeals’ decision to vacate the fiduciary rule, and approve the SEC’s new proposed rule. Others denounce the former’s demise and claim the latter is insufficient. However, I see the two efforts as quite similar in intent but different in approach. The distance between the DOL effort and the SEC rule is a short one to travel and a material improvement for our industry — a worthwhile destination.
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