House panel passes bill to replace DOL fiduciary rule with one requiring disclosure of conflicts

July 20, 2017 by Mark Schoeff Jr.

In a party line vote, the House Education and the Workforce Committee approved legislation on Wednesday that would kill the Labor Department fiduciary rule and replace it with an advice standard based on disclosure.

It wasn’t the only effort in the House on Wednesday to take the DOL rule off the books. Later in the day, the House Appropriations Committee was expected to approve a DOL spending bill that would prevent the agency from funding the enforcement of the fiduciary rule.

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Originally Posted at InvestmentNews on July 19, 2017 by Mark Schoeff Jr..