"Biden Admin Finalizes Controversial Retirement Rule Amid Legal Challenges"
TL;DR Summary
The Biden Administration has finalized the Retirement Security Rule, expanding the definition of fiduciaries to include more financial advisers and requiring them to act in clients' best interests. This rule aims to protect investors from conflicts of interest but has sparked controversy over concerns it may limit access to financial advice for average Americans. The rule will take effect in September 2024, with full implementation a year later.
Topics:business#biden-administration#fiduciary#finance#financial-advisers#investment-advice#retirement-rule
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