Micah Hauptman: Fiduciary Rule Ruse

Posted by admin on Thursday, March 2, 2017

Micah Hauptman Money Quote saying Trump has requested a delay in implementing the Obama administrations “Fiduciary Rule” on investment advisors. Micah Hauptman said:
 

 

“It’s a complete ruse that the delay will be limited to 60 days, We should expect a string of delays, and the longer the rule is delayed, the more harm will befall retirement savers” — Micah Hauptman

 

 

In this quote, Micah Hauptman seems to be criticizing a delay in implementing a new rule related to retirement savings. By calling the 60-day delay a “complete ruse”, he suggests it is intentionally misleading and the timeline will not be adhered to. Hauptman goes on to predict there will be a “string of delays”, implying the rule change will face repeated pushbacks that prolong its implementation. His main point is that the longer this rule is postponed, the greater negative impact it will have on people saving for retirement.

The best interpretation is that Hauptman believes the delay tactics will undermine the retirement security of savers, and the rule should be enacted without avoidable stalling. He comes across as advocating for timely regulatory certainty to better protect the interests of those saving for their financial future in old age.