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Keyword: financialadviserrule

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  • Labor secretary: We're moving ahead with financial advisor rule

    08/11/2015 6:24:23 PM PDT · by jazusamo · 17 replies
    The Hill ^ | August 11, 2015 | Kevin Cirilli
    Labor Secretary Thomas Perez is moving ahead with issuing a final regulatory proposal for financial advisers despite growing concerns from moderate Democrats and Republicans that it would hurt low-income Americans. Perez responded to Rep. Ann Wagner (R-Mo.) in a letter earlier this week after she and other lawmakers called on Department of Labor (DOL) officials and the administration to re-propose the controversial so-called "fiduciary standards," which would increase disclosure requirements for financial advisers. The business community is vehemently lobbying against the proposal, which failed in 2010, arguing it would raise consumer costs for Americans who need financial advice the most....