Warren says she’s concerned that financial firms are misleading their investors
by claiming they can deal with the increased costs of the fiduciary standard
while telling regulators that the proposal will create excessive hardships for
the industry.
Estimated reading time: 0 minutes, 35 seconds
Senator Elizabeth Warren Calls for Investigation of Firms Opposing Fiduciary Standard
Senator Elizabeth Warren is seeking a government probe of advisory firms that have been talking out of both sides of their mouths when it comes to the Department of Labor's fiduciary standard. So reports The Hill.
The firms Warren seeks to target are the ones who told regulators the fiduciary standard would be a disaster for their business, but have also told their shareholders they will be able to weather the regulation.
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