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Acting SEC chairman Michael Piwowar says the agency should be tasked with writing its own fiduciary rule to govern advice stockbrokers provide to retail investors.
Acting SEC chairman Michael Piwowar says the agency should be
tasked with writing its own fiduciary rule to govern advice
stockbrokers provide to retail investors. The comments suggest he
favors the industry's call to replace the Labor
Department's rule with one businesses would find less onerous,
the Wall Street Journal reports. While the Trump administration has
postponed implementation of the measure, it remains unclear whether
it plans to modify or repeal it.
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