Fiduciary advocates are urging the incoming Trump administration to spare the Labor Department’s fiduciary rule, as government lawyers press a Washington judge not to put on hold his recent ruling that upheld the merits of the regulations.
As speculation intensifies that the fiduciary rule could be on the chopping block or significantly curtailed under President Donald Trump and a GOP-controlled Congress, members of the SaveOurRetirement Steering Group — AFL-CIO, AFSCME, Americans for Financial Reform, Better Markets, Consumer Federation of America and the Pension Rights Center — issued a statement telling Trump to “make good on his election talk by supporting the rule — and choosing regular Americans over Wall Street.”
Trump, the coalition said, “campaigned on the promise to make government work for hard-working Americans, not special interests. One key test of his commitment will be what position he takes” on the Labor Department’s fiduciary rule. The rule, years in the making, seeks to mitigate conflicts of interest in the retirement advice market.
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Melanie Waddell
Melanie is senior editor and Washington bureau chief of ThinkAdvisor. Her ThinkAdvisor coverage zeros in on how politics, policy, legislation and regulations affect the investment advisory space. Melanie’s coverage has been cited in various lawmakers’ reports, letters and bills, and in the Labor Department’s fiduciary rule in 2024. In 2019, Melanie received an Honorable Mention, Range of Work by a Single Author award from @Folio. Melanie joined Investment Advisor magazine as New York bureau chief in 2000. She has been a columnist since 2002. She started her career in Washington in 1994, covering financial issues at American Banker. Since 1997, Melanie has been covering investment-related issues, holding senior editorial positions at American Banker publications in both Washington and New York. Briefly, she was content chief for Internet Capital Group’s EFinancialWorld in New York and wrote freelance articles for Institutional Investor. Melanie holds a bachelor’s degree in English from Towson University. She interned at The Baltimore Sun and its suburban edition.
