The second-term Republican congresswoman from Missouri has become the de facto tip-of-the-spear against the Department of Labor's recently proposed conflict of interest rule, which seeks to place a fiduciary standard of care on all advisors to retirement plans and individual retirement accounts.
"I find it despicable that Sen. Warren, D-Massachusetts, would take an entire industry and essentially call them all snake-oil salesman," said Rep. Anne Wagner in an interview between appropriations votes on the House Floor last week.
"This proposal is another instance of top-down, Washington-knows-best approach. But the Obama Administration has shown no investor harm. This rule is a solution in search of a problem," she said.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
