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InvestmentNews has highlighted the possible hurdles the incoming Trump Administration would have to conquer in reversing the Labor Department's investment advice rule. The article pinpoints the difficulties Trump would have in reducing regulation caused by the DOL's June fiduciary rule.
“It's hard to write a regulation, which bothers people who like regulation, and it's hard to get rid of a regulation, which bothers people who don't like regulation,” said Stuart Shapiro, a professor of public policy at Rutgers University. Donald Trump's victory on Tuesday has given new momentum to opponents of the rule, who are currently pursuing litigation to stop it. “Based on the results of the election, the future of the DOL rule is uncertain,” said Dale Brown, president and chief executive of the Financial Services Institute. “We're exploring other avenues available on [Capitol] Hill and in the new administration to fix the problems with the rule or repeal it entirely.”
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