Senator Elizabeth Warren appealed to the pro-business bent of the Trump Administration Tuesday to save the fiduciary rule.

The Massachusetts Democrat’s message: keep the best-interest standard because Wall Street wants it.

J.P. Morgan, Prudential, BlackRock and a host of other large financial firms are supporting the rule because they know it will increase confidence of the public in financial advisors and bring more investors to the table, the liberal scion claimed.

“These companies -- and many others -- know the basic truth that Charles Schwab recently shared with my office: Regulations like the DOL fiduciary rule are a “component of maintaining the public’s trust in financial institutions,” Senator Warren said.

Her comments came in a letter to Acting Labor Secretary Edward Hugler.

On Friday, President Trump directed Hugler to study whether the rule harmed the ability of consumers to get retirement information and obtain financial advice and to send out to the public a proposal to revise or end the rule if it did.

Trump’s presidential memorandum did not change any of the deadlines or wording in the rule mandating retirement plan advisors make decisions and recommendations that put plan participants’ wealth ahead of their own.

“Delaying implementation of this rule would be a slap in the face to the companies that have invested, in good faith, for a deadline that has stood for the past year -- and to the everyday worker deserving of the assurance that their retirement advisor is working in their best interest,” Warren wrote.
 

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