Fiduciary duties for financial advisers…
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Republicans Move to Block 401(k) Rule
House Republicans advanced a measure to overturn the US Labor Department’s rule governing investment plan advisers that has been opposed by many on Wall Street.
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The Committee on Education and the Workforce voted 23-18 Wednesday in favor of the resolution brought under the Congressional Review Act. The rule, which would extend strict fiduciary standards to more retirement plan advisers, has drawn the ire of both congressional Republicans and business groups, particularly in the life insurance industry.
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