The US Department of Labor’s fiduciary rule
continues to make headlines, from its impact on the capital
markets to confusion in the retirement sector.
The rule dictates that broker-dealers making investment
recommendations are now deemed fiduciaries, although the
future of the rule and the related Best Interest Contract and
Principal Transactions Exemptions remains unclear.
Just a month after coming into effect the US representative
for Missouri’s 2nd congressional district, Ann
Wagner, introduced a draft legislation designed to repeal and
replace the rule. The replacement legislation would apply a
best interest standard, and would hold investment and
retirement accounts on an equal footing.
The political climate in the US means the continued debate of
the rule is unsurprising – despite its passing into
legislation. What is uncertain however, is how broker dealers
have chosen to address the rule and its stipulations amidst
It is with this in mind that IFLR’s latest
survey, in association with Morrison &
Foerster, seeks broker dealer’s views
on the fiduciary rule, asking the market to share its views
on the rule as well as any changes or amendments it has made,
or plans to do.
Vote now using this link
, or by typing the following URL into
your browser: https://www.surveymonkey.co.uk/r/FJ8PDTT
Respondents will receive a free copy of the report, to
be published in September.
All personal data and responses will be held
confidentially by IFLR, and will not be shared with any
To arrange a follow up interview to discuss your answer
contact John Crabb on firstname.lastname@example.org
Last year’s survey, on TLAC, can be