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Opinion: Here’s the truth about a controversial new law to protect investors – MarketWatch

April 06
14:21 2016

Fiduciary” is the financial world’s latest four-letter word, and today it’s likely to be dropped like an angry f-bomb all over the place — as in “What the fiduciary is the Department of Labor thinking?” or “How the fiduciary will this change the financial-advice business?”

The Department of Labor’s long-awaited rule requiring financial advisers to be fiduciaries — to work in a fashion that puts the best interest of consumers first — was announced today.

 

If it somehow survives the lobbyists and legislators promising to “fix” something they assume will be broken from the start, it’s going to leave most people — advisers and consumers alike — scratching their heads.

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