President Trump’s Memo is Unclear on Directive to Delay DOL Fiduciary Rule

Posted on February 7th, 2017 at 9:19 AM
President Trump’s Memo is Unclear on Directive to Delay DOL Fiduciary Rule

From the Desk of Jim Eccleston at Eccleston Law LLC:

President Trump has sent a memo regarding the Department of Labor’s fiduciary duty rule. Most notably, the memo does not direct the Department of Labor to delay the rule and it does not tell the agency to consult with the Department of Justice to seek a stay on litigation surrounding the rule.

However, the memo does direct the Department of Labor to prepare an economic and legal analysis to determine whether the rule is likely to harm investors and disrupt the industry.

Moreover, the memo also states that if the Department of Labor determines that the rule hurts investors or firms, it can propose a rule rescinding or revising the regulation. 

The attorneys of Eccleston Law LLC represent investors and advisers nationwide in securities and employment matters. The securities lawyers at Eccleston Law also practice a variety of other areas of securities for financial investors including Securities FraudUnauthorized TradingBreach of Fiduciary DutyRetirement Planning Negligence, and much more. Our attorneys draw on a combined experience of nearly 65 years in delivering the highest quality legal services. If you are in need of legal services, contact us to schedule a one-on-one consultation today. 

Related Attorneys: James J. Eccleston

Tags: Eccleston, Eccleston Law, Eccleston Law LC, James Eccleston, President Trump, DOL Fiduciary Rule, Department of Labor, fiduciary duty, Department of Justice, litigation, economic and legal analysis,

Return to Archive

TESTIMONIALS

Previous
Next

Fantastic news!!!!  Your professionalism, support and expertise were greatly appreciated.  You made a difficult situation much more bearable.

Marci M.

LATEST NEWS AND ARTICLES

February 21, 2024
SEC Alleges Fraud Against Morgan Stanley and Former Executive in Block Trading Business

As reported by the Wall Street Journal, the Securities and Exchange Commission (SEC) has charged Morgan Stanley & Co. LLC and its former head of equity syndicate desk, Pawan Passi, with a multi-year fraud involving the disclosure of confidential information related to block trades.

February 20, 2024
Challenges Persist: Firms Struggle to Comply with Regulation Best Interest

FINRA's annual report for 2024 reveals a concerning trend among broker-dealers, with numerous instances of violations of Regulation Best Interest (Reg BI).

February 19, 2024
FINRA Flags Violations in 70% of Broker-Dealers' Crypto Communications

During a two-year-old targeted examination, the Financial Industry Regulatory Authority (FINRA) has identified potential violations in 70 percent of broker-dealers' communications about cryptocurrencies.