House Lawmakers Plan Bipartisan Bill to Preempt DOL Fiduciary Rule

House Democrats and Republications are teaming up to draft legislation that would create an alternative “best interest standard” for advisors to operate under when working with retirement accounts.

Concerned that the Department of Labor’s current fiduciary proposal may have unintended and potentially negative consequences, four members of the House Education and Workforce Committee plan to introduce bipartisan legislation before Thanksgiving that could preempt the Labor Department’s finalized rule.

Read more from WealthManagement here.

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