“U.S. appeals court voids Obama-era ‘fiduciary rule'”

From Reuters:

A federal appeals court on Thursday voided the U.S. Department of Labor’s “fiduciary rule,” an Obama administration measure adopted in 2016 meant to curb conflicts of interest among providers of financial advice to Americans planning for retirement.

The 2-1 decision by the 5th U.S. Circuit Court of Appeals is the second major victory for financial services groups under President Donald Trump’s administration. Last year, Congress killed a Consumer Financial Protection Bureau rule that had restricted financial institutions from forcing clients to sign mandatory arbitration agreements.  ...MUCH MORE

HT: How Appealing