If my Twitter feed is indicative of events in the world, then Donald Trump is outraging people across the world with his first few actions as US President. Among the many things that have caused the upset is a memorandum he signed on 3 February. The memorandum seeks to roll back a US Department of Labor rule that makes financial advisers responsible for their advice. It is reasonable to ask the question: but weren’t they already responsible? No. They were not and it took the Barack Obama government a full 6 years to put together the ‘fiduciary rule’ to protect investors who put their money in retirement products sold by commission-earning brokers and insurance agents.