White House opposes watering down fiduciary rule for investment advisers

Published 12/08/2015, 01:52 PM
Updated 12/08/2015, 02:00 PM
White House opposes watering down fiduciary rule for investment advisers

WASHINGTON (Reuters) - The White House will "aggressively oppose" any efforts by Republicans to water down a proposed Labor Department rule that would require investment advisers to act in the best interests of their clients when giving advice, spokesman Josh Earnest said on Tuesday.

Earnest also said negotiations continued among lawmakers about passing a "tax extenders" bill and said the White House believed any such package should include tax relief for middle class families.

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