Daily Three: Suitable v. Best Interest, Chinese Business Activity and Puerto Rico’s Debt
- This week the U.S. Labor Department is expected to release new rules requiring brokers who manage retirement accounts to act in the client’s best interest, instead of the old standard of what is suitable. The Wall Street Journal
- The China composite manufacturing and service purchasing managers’ index (PMI) was the strongest reading for overall business activity in China in 11 months. International Business Times
- Puerto Rico’s senate has issued a moratorium on all government debt payments through January 2017. The house has debated a similar measure. Any bill would require the governor’s signature. The New York Times