From: Politico
With help from Marianne LeVine and Timothy Noah
FIDUCIARY RULE TO OMB?: “The Obama administration this week is expected to advance a highly anticipated rule that would restrict the fees certain brokerage firms can earn for advising customers about financial investments, according to people familiar with the decision.
“After a flurry of conversations between White House officials and industry players in recent days, the Labor Department’s long-delayed fiduciary duty rule for broker-dealers is expected to be sent to the OMB by Friday so it can be reviewed before being formally proposed, said three sources familiar with these conversations.
