Trump to Order Dodd-Frank Review, Halt Obama Fiduciary Rule
- Move delays April implementation of rule prohibiting conflicts
- Moves emphasize removal of regulatory burdens: Official
Trump to Halt Fiduciary Rule, Order Dodd-Frank Review
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President Donald Trump will order a sweeping review of the Dodd-Frank Act rules enacted in response to the 2008 financial crisis, a White House official said, signing an executive action Friday designed to significantly scale back the regulatory system put in place in 2010.
Trump also will halt another of former President Barack Obama’s regulations, hated by the financial industry, that requires advisers on retirement accounts to work in the best interests of their clients. Trump’s order will give the new administration time to review the change, known as the fiduciary rule.