LABOR/TRUMP MEMORANDA: “Presidential Memorandum on Fiduciary Duty Rule…
The Department of Labor’s (Department) final rule entitled, Definition of the term ‘Fiduciary’; Conflict of Interest Rule-Retirement Investment Advice, 81 Fed. Reg. 20946 (April 8, 2016) (Fiduciary Duty Rule or Rule), may significantly alter the manner in which Americans can receive financial advice, and may not be consistent with the policies of my Administration…
Section 1. Department of Labor Review of Fiduciary Duty Rule. (a) You are directed to examine the Fiduciary Duty Rule to determine whether it may adversely affect the ability of Americans to gain access to retirement information and financial advice.”
-Donald Trump, “Presidential Memorandum on Fiduciary Duty Rule,” White House Office of the Press Secretary, Feb. 3, 2017