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Questioning role of financial advisers when interests collide

US currency
KAREN BLEIER/AFP/Getty Images

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The U.S. Department of Labor is weighing new requirements for financial advisors to work in clients' best interest on retirement plans and individual retirement accounts.

It might seem like a common sense reform, but it pits the Labor Department against various industry groups.

The Daily Circuit looks at the history behind these reforms and who stands to lose with proposed changes.