White House Releases Memo Directing DOL to Examine Fiduciary Rule

​President Trump signed a memorandum directing the Department of Labor to examine the Fiduciary Duty Rule to determine whether it may adversely affect the ability of Americans to gain access to retirement information and financial advice. Acting U.S. Secretary of Labor Ed Hugler stated, “The Department of Labor will now consider its legal options to delay the applicability date as we comply with the President’s memorandum.”

​President Trump also signed an Executive Order establishing core principles for regulating the United States financial system, including "empower Americans to make independent financial decisions and informed choices in the marketplace, save for retirement, and build individual wealth," and directing the Treasury Department to review the financial regulatory system.