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Quick look at Rep. Wagner's bill to kill fiduciary rule

The proposed fiduciary-rule-killing law says commission-based compensation and recommendations on proprietary investment products do not in themselves violate the best interest standard.

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Another alternative to fiduciary rule introduced in House, this one by Rep. Wagner -- here's what's in it. (Photo: Diego M. Radzinschi/ALM)

A discussion draft of proposed legislation sponsored by Rep. Ann Wagner, R-MO., would stamp out the Labor Department’s fiduciary rule and its attending prohibited transaction exemptions.

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Nick Thornton

Nick Thornton

Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.

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