The Department of Labor's fiduciary proposal has drawn considerable opposition from many industry groups, but one of the leading critics says it is optimistic that the final regulation will exclude some of the provisions that would require altering common broker and advisor practices.

The Financial Services Institute has been working aggressively to raise objections to the agency’s proposal, which would impose fiduciary obligations on brokers and advisors working with retirement plans and participants. The group identifies the fiduciary rulemaking as its highest policy priority.

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