Financial industry determined to kill the Fiduciary Duty Rule finds a profit line
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Shouldn’t the person telling you what to do with your retirement accounts be legally required to act in your best interest? Sounds simple enough, but regulation to that affect has long been resisted by the financial industry. The Obama administration pushed for the so-called Fiduciary Duty Rule, but this week the Labor Department sought to delay implementation of the rule by 18 months. As it turns out, this rule might actually help brokers instead of hurting them.
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