A House draft bill seeks to erase the fiduciary rule. (Photo: AP)

House lawmakers plan to convene a hearing Thursday to discuss the impact of the Department of Labor’s fiduciary rule on the capital markets. The hearing will focus on a draft bill put forth by Rep. Ann Wagner, R.-Mo., that seeks to kill the fiduciary rule and instead impose a best interest standard on broker-dealers’ investment recommendations.

Related: Plan advisors most exposed during fiduciary rule transition period

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