Wall Street Won't Be Able To Bilk Retirees Anymore

On Wednesday, the Department of Labor (DOL) issued a final rule that will require those advisers to adhere to a “fiduciary standard,” or in other words to always put clients’ interests ahead of their own when they make recommendations about investing in exchange for fees or other payment. They will have to make “prudent” investment recommendations, according to the DOL, that don’t take their own interests into account, as well as charge reasonable compensation that doesn’t create a conflict of interest and fairly represent their recommended investments. Compliance will be required in a year, beginning in April of 2017....
http://thinkprogress.org/economy/2016/04/06/3766942/fiduciary-rule-final/