WASHINGTON ― The acting SEC chair isn't mincing words on the Department of Labor's fiduciary rule.
"I have a very nuanced view of the DoL fiduciary duty rule: I think it is a terrible, horrible, no-good, very bad rule. For me that rule was never ever about investor protection," Chairman Michael Piwowar says. "To me, that rule, it was about one thing and it was about enabling trial lawyers to increase profits."
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