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

You guys are good!

Mike L.

LATEST NEWS AND ARTICLES

August 15, 2022
FINRA Proposal Would Permit Private Homes to Serve as Non-Branch Offices

The Financial Industry Regulatory Authority (FINRA) has filed proposed changes to FINRA Rule 3110 with the Securities and Exchange Commission (SEC).

August 12, 2022
SEC Charges J.P. Morgan, UBS, and TradeStation for Deficiencies Pertaining to the Prevention of Customer Identify Theft

The Securities and Exchange Commission (SEC) has charged J.P. Morgan Securities, UBS Financial Services, and TradeStation Securities over deficiencies in their programs designed to prevent client identify theft, which violates the SEC’s Identity Theft Red Flags Rule, or Regulation S-ID.

August 11, 2022
FINRA Suspends Former Schwab Advisor for Failing to Disclose Felony Charges

The Financial Industry Regulatory Authority (FINRA) has suspended a former Charles Schwab advisor who allegedly failed to disclose multiple felony charges.