Sen. Warren Questions Firms on Their DOL Fiduciary Prep Ahead of Possible Delay

Sen. Warren Questions Firms on Their DOL Fiduciary Prep Ahead of Possible Delay

DOL Quickly Releases Another Batch of Fiduciary FAQs

5 Predictions for Advisor Fintech in 2017

Sen. Elizabeth Warren, D-Mass., sent a letter on Thursday to 33 financial firms asking them whether they support delaying and rolling back the Department of Labor’s fiduciary rule, as the rule could suffer such a fate Monday.

The letter — which was sent to such firms as Morgan Stanley, Raymond James, Charles Schwab & Co., Fidelity, BlackRock and TD Ameritrade — comes on the heels of reports that the incoming Trump administration will seek to delay the rule, Warren said.

CFA and AFR state that their review “comes as some in the brokerage and insurance industries are working feverishly, in court, on Capitol Hill and at the Department of Labor itself, to overturn a rule requiring financial professionals to act in the best interests of their clients.”

While a bill to delay the rule is pending, there are faster routes, U.S. Chamber of Commerce exec David Hirschmann…

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