The Department of Labor is re-evaluating the fiduciary rule for the third time. This time, it could have teeth.

Investor advocates, including the CFA, PIABA, and Ron Rhoades, sent a comment letter in opposition of the DOL’s advice rule.

Darren Fogarty, Employee Benefits Advisor at Wincline, describes the differences between brokers and fee-only advisors.

In addition changing Reg BI’s nomenclature, the Institute for the Fiduciary Standard called for many changes by the SEC.

Gensler has developed a reputation as a tough regulator who also was a successful leader on Wall Street.

But how a Democratic-led SEC interprets and enforces Reg BI depends on its chair.