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Previewing the President’s Announcement Changing the Fiduciary Standard

The Department of Labor appears to be moving forward with its fiduciary duty proposal. As DOL continues to contemplate change in this area, it should carefully consider the potential consequences of any changes, including the effects on investors of modest means. In crafting the rule and understanding the consequences, DOL should also work with the Securities and Exchange Commission. As has too often been the case in financial services regulation, good intentions could produce bad results for Americans trying to save for retirement.

 

The Department of Labor appears to be moving forward with its fiduciary duty proposal. As DOL continues to contemplate change in this area, it should carefully consider the potential consequences of any changes, including the effects on investors of modest means. 
In crafting the rule and understanding the consequences, DOL should also work with the Securities and Exchange Commission. As has too often been the case in financial services regulation, good intentions could produce bad results for Americans trying to save for retirement.

The Department of Labor appears to be moving forward with its fiduciary duty proposal. As DOL continues to contemplate change in this area, it should carefully consider the potential consequences of any changes, including the effects on investors of modest means. 

In crafting the rule and understanding the consequences, DOL should also work with the Securities and Exchange Commission. As has too often been the case in financial services regulation, good intentions could produce bad results for Americans trying to save for retirement.