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Trump Has Opinion on Fiduciary Rule — But…

Trump campaign manager Kellyanne Conway says the president-elect has an opinion on the Department of Labor’s fiduciary rule.

Unfortunately, she didn’t share that opinion while filling in as a keynote speaker for hedge fund-of-fund manager Anthony Scaramucci at The MarketCounsel consulting and law firm group’s annual summit in Miami Beach. Scaramucci and Trump chief-of-staff Reince Priebus canceled due to a “mandatory” transition staff meeting called by the president-elect, AdvisorHub reported that MarketCounsel founder Brian Hamburger, a University of Miami Law School classmate of Priebus, told the group.

According to the AdvisorHub report, Conway said that Scaramucci, who has been widely quoted as saying the president-elect plans to do away with the fiduciary rule, has Trump’s ear as one of 16 people on the president-elect’s transition team executive committee, but that does not mean he accepts Scaramucci’s extreme criticism of the rule.

“He believes what he believes,” she said of Trump’s view, adding that she knows what it is but declining to elaborate, according to the report.