The US's equivalent of the Retail Distribution Review (RDR) has partially come into effect - in spite of opposition from President Donald Trump to the financial services reforms.
The so-called "fiduciary rule" rule requires financial advisers in the US who handle retirement accounts to act as "fiduciaries", meaning they are obliged to put the best interests of their clients first. The RDR-like regulation is coming into effect in two stages. The core fiduciary principle, which requires advisers to act in the best interest of their clients, came into effect last Friday, while the second step is due to come into effect from January. This will enforce advisers to disclose conflicts of interest to investors, according to the Wall Street Journal. Trump (pictured) ha...
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