A.G. Schneiderman To Trump Administration: Don’t Kill Investor Protections For Americans Saving For
A.G. Schneiderman's office press release ------ Attorney General Eric T. Schneiderman today urged the Department of Labor to resist the Trump Administration’s efforts to kill the Fiduciary Rule, an investor protection that would require financial advisors to disclose conflicts of interests and to act in their clients’ best interest -- rather than their own. Additionally, it seeks to protect consumers saving for retirement in New York and across the country from financial advisors who recommend investing in assets whose sale is financially beneficial for the advisor but harmful to the client who could end up paying higher fees. The rule, which was enacted under President Obama after more than six years of analysis and multiple opportunities for public comment, would have become enforceable earlier this month, but was delayed by 60 days following a directive by President Trump that the Department of Labor should reexamine and consider rescinding the rule. To get more in depth information click on the picture below to read the release.