The Financial Planning Coalition, of which the CFP Board is a prominent member, filed an amicus brief in federal court in Texas on August 24 supporting the Department of Labor’s fiduciary rule. The DoL is defending itself against a group of plaintiffs, including the U.S. Chamber of Commerce, which has sued to stop the rule's implementation in April. The federal judge overseeing the case ruled to allow the coalition’s brief to be considered.
That’s unfortunate, because the brief contains information which I believe to be inaccurate and misleading, and now that information may be used to shape public policy.
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