A new Senate report alleges the Department of Labor failed to consider recommendations from non-partisan experts at the Securities and Exchange Commission, the Treasury Department and the Office of Management and Budget in crafting its proposed fiduciary rule.
It also alleges the Obama Administration was “predetermined to regulate the industry” and sought economic evidence to “justify its preferred action,” according to a majority staff report of the Committee on Homeland Security and Governmental Affairs.
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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.
