By Kathleen McBride via Iris.xyz
It’s Time for Congress to acknowledge the truth about the DOL Fiduciary Rule: The Department of Labor’s Fiduciary Rule – long overdue and already effective – goes further to eliminate conflicts of interest and provide enormous benefits to retirement investors than any regulation or legislation since ERISA or the Investment Advisers Act of 1940. It will benefit all investors, no matter their level of wealth, size of account, or whether the advice they get is on retirement or non-retirement holdings. And, it will benefit the American economy.
Three recent court rulings underscore the fact that it is in the public interest that the DOL Fiduciary Rule goes forward without delay. U.S. District Judge Daniel Crabtree opined: “Any injunction thus will produce a public harm that outweighs any harm that plaintiff may sustain from the rule change.”
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