Without a single Committee Democrat voicing support, the House Education and the Workforce Committee reported out two bills earlier today that purport to require all financial professionals to act in the best interests of their customers when providing retirement investment advice. Clearly, Committee Democrats saw through the pretense and recognized that these bills would codify loopholes in existing rules and weaken the standards that apply.

The question is whether Ways and Means Committee members will be as clear sighted when they meet tomorrow to mark up H.R. 4294, Rep. Peter Roskam’s cleverly misnamed “Strengthening read more >>>

Source : HuffingtonPost.Com