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February 24, 2015

Obama proposal sets up Wall St. fight over new rules for retirement advisers

  • Brokers who sell stocks, bonds, annuities and other investments would have to disclose any fees or payments they receive for recommending investments.
    • By JIM KUHNHENN
    Associated Press

    WASHINGTON — Tapping the anxieties of aging baby boomers, President Barack Obama on Monday called for tougher standards on brokers who manage retirement savings accounts, a change that could affect the investment advice received by many Americans and aggravate tensions between the White House and Wall Street.

    The Labor Department submitted a proposal to the White House Monday that would require the brokers who sell stocks, bonds, annuities and other investments to disclose to their clients any fees or other payments they receive for recommending certain investments.


     
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