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Jan
30

Fiduciary rule to OMB?

From: Politico

By BRIAN MAHONEY

With help from Marianne LeVine and Timothy Noah

FIDUCIARY RULE TO OMB?:  “The Obama administration this week is expected to advance a highly anticipated rule that would restrict the fees certain brokerage firms can earn for advising customers about financial investments, according to people familiar with the decision.

“After a flurry of conversations between White House officials and industry players in recent days, the Labor Department’s long-delayed fiduciary duty rule for broker-dealers is expected to be sent to the OMB by Friday so it can be reviewed before being formally proposed, said three sources familiar with these conversations.

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