February 3, 2017
President Trump will sign an executive order that could effectively kill a contentious investment adviser rule that had been a top priority of President Obama.
The president is expected to sign a pair of executive orders targeting rules imposed on the financial sector Friday, according to senior White House officials. And one of those orders takes square aim at the “fiduciary duty” rule written by the Labor Department, finalized after years of effort in June.
That rule establishes significantly stricter standards on investment advisers for retirement plans and had been fiercely opposed by the financial industry.
The second order will direct financial regulators, under the guidance of the Treasury Department, to review regulations from the Dodd-Frank financial reform law for potential revisions or outright removal.
This article was posted: Friday, February 3, 2017 at 9:53 am