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U.S. Securities and Exchange Commission
Agency should adopt rule to protect those with IRAs
Agency should adopt rule to protect those with IRAs

The U.S. Supreme Court struck a blow for investors last week when it revived a lawsuit accusing the managers of a company retirement plan of picking investments that were too costly. Meanwhile, the Department of Labor is trying to provide a similar level of protection for individuals saving for retirement through IRAs and small group plans. Wall Street firms and investment brokers are fighting the department's proposal, arguing that they're already regulated enough. But it's not a persuasive argument. The Employee Retirement Income Security Act of 1974 gives the Labor Department jurisdiction over pensions, 401(k) plans and individual retirement accounts, but the standards...

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