Biden administration to propose rule to close retirement advice loopholes ...Middle East

The Biden administration on Tuesday is proposing a new rule aimed at closing loopholes that create added costs around retirement investment advice. The announcement, which is part of a broader effort by the White House to address so-called “junk fees,” is focused on addressing potential conflicts of interest among financial advisers who provide retirement advice. The new Labor Department proposal would require financial advisers to provide retirement advice in the best interest of savers rather than in the interest of a firm pushing a specific investment product, something that the White House said can cost retirees billions of dollars annually. The White House Council of Economi

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