Washington, D.C. counsel Brad Campbell was quoted in a CNBC article titled, “Here’s what you’ll see if the investor protection rule is repealed.” Many analysts and industry leaders question whether the fiduciary rule will survive under President-elect Trump and a Republican-controlled Congress.
Brad noted that the big questions are whether the Trump Administration will seek to repeal or replace the rule, and what the timing of any action may be. He explained that the Trump Administration may elect to extend the applicability date, providing time to address compliance issues and make final decisions about the future of the rule. Brad also noted that some firms may continue to implement change, regardless of the rule’s survival.
"We may see some advisors make some changes, even if the rule doesn't go into effect on April 10," Brad said. "Some are so far down the road, they'll continue with the decisions they've made, but not all of the changes they would've been forced to make."