Posted on Apr 29, 2017
Newt Gingrich: Trump vs. the swamp, Round III -- Democrats turn to bureaucrats to stop POTUS
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This is the rule he's talking about; link goes further in depth:
"Breaking Down the Fiduciary Rule
The Department of Labor’s definition of a fiduciary demands that advisors act in the best interests of their clients, and to put their clients' interests above their own. It leaves no room for advisors to conceal any potential conflict of interest, and states that all fees and commissions must be clearly disclosed in dollar form to clients. The definition has been expanded to include any professional making a recommendation or solicitation — and not simply giving ongoing advice. Previously, only advisors who were charging a fee for service (either hourly or as a percentage of account holdings) on retirement plans were considered fiduciaries."
Read more: DOL Fiduciary Rule Explained as of April 18, 2017 | Investopedia http://www.investopedia.com/updates/dol-fiduciary-rule/#ixzz4fjFeke96
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"Breaking Down the Fiduciary Rule
The Department of Labor’s definition of a fiduciary demands that advisors act in the best interests of their clients, and to put their clients' interests above their own. It leaves no room for advisors to conceal any potential conflict of interest, and states that all fees and commissions must be clearly disclosed in dollar form to clients. The definition has been expanded to include any professional making a recommendation or solicitation — and not simply giving ongoing advice. Previously, only advisors who were charging a fee for service (either hourly or as a percentage of account holdings) on retirement plans were considered fiduciaries."
Read more: DOL Fiduciary Rule Explained as of April 18, 2017 | Investopedia http://www.investopedia.com/updates/dol-fiduciary-rule/#ixzz4fjFeke96
Follow us: Investopedia on Facebook
DOL Fiduciary Rule: Everything You Need to Know
The Department of Labor (DOL) Fiduciary Rule is a new ruling that expands the “investment advice fiduciary” definition under the Employee Retirement Income Security Act of 1974 (ERISA).
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