Trump: "We Expect to be Cutting a Lot out of Dodd-Frank"
President Trump signed an executive order on February 3 directing the secretary of the treasury to review financial regulations. The order is intended to be a first step toward rolling back the Obama-era Dodd-Frank Wall Street Reform and Consumer Protection Act.
Trump also signed an executive memorandum ordering a review the Department of Labor’s Fiduciary Duty Rule, due to take effect in April, that would raise the standards of all financial professionals who work with retirement plans or provide retirement planning advice to the level of a fiduciary, a much higher level of accountability than previously required of financial salespersons, such as brokers, planners and insurance agents. The memorandum sets the stage for repealing or revising the Fiduciary Duty Rule.
At the beginning of a morning meeting with leading business leaders in the White House state dining room, Trump asked Rep. Ann...