Labor Department retirement savings sales regulation News

The head of Wall Street’s self-regulator criticized the Obama administration’s effort to impose stricter standards on brokers who manage retirement accounts, saying the rule would make it difficult for smaller investors to get advice. In a speech Wednesday, Financial Industry …

Brokers and insurance agents providing retirement-savings advice would have to put clients’ interests ahead of their own under an Obama administration plan that will face stiff opposition from Wall Street and Republican lawmakers. The Labor Department proposal announced Tuesday is …