SIFMA claims White House figures on DOL rule flawed

The White House is using flawed methodology to assert that abusive trading practices are costing U.S. investors up to $17 billion a year in retirement savings, according to a report released Monday by a Wall Street group that opposes toughening rules on brokers. The 18-page report commissioned by the Securities Industry and Financial Markets Association said the estimate that President Barack Obama’s administration is using is “simplistic” and isn’t supported by academic literature. More on Investment News here.