The Labor secretary says the regulation that would increase investment advice standards for retirement accounts will withstand challenges from those looking to kill it.
Senate expected to follow suit, but Obama is almost certain to veto it.
Although the board relented, it does have a $10 million fundraising goal for its new Center for Financial Planning.
Measure would square the safe harbor already provided to mutual funds.
While the Labor Department's modifications in the final rule have muted industry opponents for the moment, Congress continues the old fight.
Three investment advisers who charge fees, commissions and by the hour for their services don't anticipate big changes at their firms.
Here is your first look at the actual regulation detailing requirements for advice to retirement accounts.
Labor Department lays out the final version of its regulation to raise investment advice standards for retirement accounts. <a href="https://home.investmentnews.com/clickshare/eventPurchase.do?CSProduct=investmentnews-event&CSEventId=1259" target="_blank">Sign up</a> for our webcast taking a deep dive into how the changes will affect your business.
Advocates, opponents of the rule seek similar alterations, and we'll likely know Wednesday if they were made.
