IFLR/MoFo: fiduciary rule poll

Author: IFLR Correspondent | Published: 19 Jul 2017
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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 the uncertainty.

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 third party. 

To arrange a follow up interview to discuss your answer contact John Crabb on john.crabb@euromoneyny.com

Last year’s survey, on TLAC, can be found here