The Department of Labor (DOL) has implemented the first phase of its new Fiduciary Rule, extending the scope of retirement plan fiduciary duties. In part, the Fiduciary Rule aims to mitigate conflicts of interest that arise from financial advisors' recommendations regarding retirement accounts. Because of the sweeping changes the Fiduciary Rule brings to the financial advice industry, it has been the subject of great controversy. The primary provisions of the Fiduciary Rule took effect on June 9, 2017, though certain exemption provisions will take effect on January 1, 2018.
What Are the Requirements of Those Held to a Fiduciary Standard?
Posted by nhogan on Jun 27, 2017 2:51:25 PM
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Topics: Department of Labor, Fiduciary Rule in Effect, Uncategorized