(Bloomberg) -- President Trump will halt the Department of Labor fiduciary rule, hated by the financial industry, that requires advisers on retirement accounts to work in the best interests of their clients.
He will also order a sweeping review of the Dodd-Frank Act rules enacted in response to the 2008 financial crisis, a White House official said, signing an executive action Friday designed to significantly scale back the regulatory system put in place in 2010.
Trump’s order will give the new administration time to review the fiduciary rule.
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