The memorandum seeks to roll back a US Department of Labor rule that makes financial advisers responsible for their advice. Basically, the rule wants financial advisers to stop cheating. Ostensible concern for consumers has been the trademark of most lobbying by financial firms the world over. Decode the corporate speak and you hear the real words—if we stop cheating we will not do the business. But then the elections threw up a regime change that caused fears of a roll-back on this ‘stop cheating’ rule.

Source: Mint February 07, 2017 10:40 UTC