Trump Takes Aim at Dodd-Frank, Fiduciary Rule

The video discusses President Trump's stance on financial regulations, particularly the Glass Steagall Act, and the complexities involved in changing financial rules. It highlights the improvements in financial institutions since the crisis, such as increased capital and reduced leverage. The video also examines the Department of Labor's fiduciary rule, its potential impact on investors, and the administration's decision to delay it. The discussion includes concerns about increased costs and reduced choices for investors due to the rule.

What did President Trump suggest about banks during his campaign?

• They should focus on international markets.

• They should be nationalized.

• They should merge to become larger.

• They are too big to fail and should be broken up.

What is the main concern with the Department of Labor's fiduciary rule?

• It simplifies the regulatory framework.

• It adds unnecessary complexity and confusion.

• It reduces the number of financial advisors.

• It increases the number of investment options.

How might the Department of Labor rule affect investors according to critics?

• It will increase costs and reduce choices.

• It will lower investment costs.

• It will have no impact on investors.

• It will increase the number of available investment options.

What is the industry's stance on the best interest standard?

• They oppose it.

• They support it and believe the SEC should implement it.

• They are indifferent to it.

• They believe it should be implemented by the Department of Labor.

What has been observed as a result of firms preparing for the Department of Labor rule?

• More investment options for clients.

• Higher costs and fewer choices for investors.

• A decrease in legal liabilities.

• An increase in commission-based accounts.