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Trump targets FSOC, reviews ‘fiduciary duty’ rule

Joe Mont | February 6, 2017

President Donald J. Trump ended his second full week in office by kick-starting promised efforts to pare down Dodd-Frank Act regulations. He also ordered a review of a controversial Labor Department rule that would impose a “fiduciary duty” on investment advisors offering retirement planning advice;.

An Executive Order “On Core Principles for Regulating the United States Financial System,” lays out “core principles” of regulation under the Administration. Among them, to:

  • Empower Americans to make independent financial decisions and informed choices in the marketplace, save for retirement, and build individual wealth;
  • prevent taxpayer-funded bailouts;
  • foster economic growth and vibrant financial markets through more rigorous regulatory impact analysis that addresses systemic risk and market failures, such as...
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