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Financial Choice Act to Be Reintroduced by End of April

April 17, 2017

Financial Choice Act to Be Reintroduced by End of April

Latest iteration of Choice Act still requires DOL to promulgate fiduciary rule similar to SEC’s

April 12, 2017 | by Melanie Waddell | ThinkAdvisor

Rep. Jeb Hensarling’s Financial Choice Act, which seeks to gut the Dodd-Frank Act and is set for release by the end of April, still requires that if the Labor Department promulgates a fiduciary rule, “it must be substantially similar” to one issued by the Securities and Exchange Commission.

Hensarling announced Tuesday his plan to reintroduce his Choice Act in a matter of weeks, stating in a comment provided by a spokesperson that he looks forward to “working with the president and his administration to eliminate Dodd-Frank and replace it” with the Choice Act 2.0.

On March 15, Hensarling said reintroduction of the bill would come in a matter of weeks.

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Gil Armour, CFP
February 3, 2016

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