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George Michael Gerstein Quoted in The Wall Street Journal Discussing the Fiduciary Rule

September 12, 2017
Press Clippings

Stradley Ronon Counsel George Michael Gerstein was quoted in the recent Wall Street Journal article, “States to Trump: Leave Retirement Rule Intact of We'll Act.” The article discusses the recent bills signed by states to expand fiduciary requirements for brokers. 

“This could become a bit like Frankenstein,” said Gerstein. “If states go their own way on this, it could become a nightmare.” Meanwhile, industry executives are watching California, where a Senate resolution introduced in June “has telegraphed to [regulators] that they shouldn’t tinker too much with the DOL rule,” Gerstein said. If that translates to a bill, he said, “then that changes everything.” If California acts, “this takes on a life of its own,” said Gerstein.

To read the full article, visit The Wall Street Journal.

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