IFLR speaks with Morrison &
Foerster’s Anna Pinedo and Hillel Cohn, who helped
compile the questions, to discuss the results of the poll and
the best course of action for the fiduciary
Despite its unpopularity, more respondents feel that the
fiduciary rule should be retained than revoked. Why do you
think that is?
My view is that, at this point, many firms have committed a
lot of resources to the fiduciary rule and compliance with it.
They also may have planned their communications with clients
when it comes to the rule and so may be reluctant to change
course. They may think it is expensive to change course, and
may believe that any messaging relating to a change of course
of action would be a challenge. I also think it is reasonable
to predict, given public statements, that the Securities and