The bill that industry trade groups feared could stop the Securities and Exchange Commission and Department of Labor’s fiduciary rules in their tracks is coming up for a Tuesday vote on the House floor — and at least one industry official expects it to pass.
The Retail Investor Protection Act, H.R. 2374, introduced by Rep. Ann Wagner, R-Mo., passed the House Financial Services Committee by a 44-13 vote in June and would require that the DOL wait to repropose its fiduciary rule until 60 days after the SEC issues its fiduciary proposal under Section 913 of Dodd-Frank.
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