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New rules set to make retirement industry more accountable

"The $14 trillion retirement industry is about to undergo a major overhaul: Brokers for the first time will be forced to consider the best interest of their clients — rather than the brokers’ own fees — in recommending investments.

"The US Department of Labor announced the new rules, the first in decades, on Wednesday, after banks, insurance firms, and mutual fund companies spent millions furiously lobbying against them."