The new president-elect cannot simply rip up the regulation, which became effective in June and requires financial advisers to act in the best interests of their clients in retirement accounts. Trying to scrap it through the legislative process also can be a heavy lift.
“It’s hard to write a regulation, which bothers people who like regulation, and it’s hard to get rid of a regulation, which bothers people who don’t like regulation,” said Stuart Shapiro, a professor of public policy at Rutgers University.