In letters to Department of Labor (DOL) Secretary Acosta, Securities and Exchange Commission (SEC) Chairman Clayton, and Financial Industry Regulatory Authority (FINRA) President and CEO Cook, CFA is calling on these entities to investigate potential rule violations related to brokerage firms’ implementation of the DOL fiduciary rule. A number of industry groups opposed to DOL’s fiduciary rule have suggested that the rule is causing brokerage firms to inappropriately shift investors into fee accounts when they would be better off in commission accounts. There are good reasons to dismiss these arguments as nothing more than the misleading rhetoric of industry groups intent on watering down the rule’s strong investor protections. In light of brokerage firms’ incentive to maximize their fee income, however, industry groups’ claims that investors are being inappropriately shifted to fee accounts should be investigated. If verified, DOL, SEC, and FINRA must act to end the practice.