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DOL Fiduciary News: December 15, 2016

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Members of Donald Trump's DOL landing team oppose fiduciary rule

InvestmentNews; Dec 14, 2016 @ 1:23 pm

Although President-elect Donald Trump's nominee for secretary of labor may be a blank slate when it comes to the agency's investment-advice rule, members of the transition team for the agency have made their opposition clear.

Mr. Trump's choice to head DOL, Andrew Puzder, has dealt mostly with wage-and-hour issues as chief executive of the fast-food company that owns the Hardee's and Carl's Jr. hamburger chains.

He has opposed DOL overtime rules and resisted minimum wage hikes but hasn't said anything about the DOL fiduciary rule, which would require financial advisers to retirement accounts to act in their clients' best interests.

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