Alexander Acosta’s DOL rule letter to WSJ contains double message and one long-term objective: ‘Gut’ it

By Brooke Southall

But Seth Rosenbloom, regulatory counsel for Betterment in New York, says he can look past, for now, the download of dogma in Acosta’s letter.

“Secretary Acosta appears to be even more concerned about the harm that could arise from bypassing core procedural checks on the power of the administrative state,” he says. “He is effectively saying that he’d rather live with the rule, at least for now, than set the precedent that key rules should change solely as a result of the changing preferences in the leadership of federal agencies.”

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This article originally published May 23rd, 2017 on RIABiz.