Labor Department’s fiduciary rule too complicated to put into practice: FSI

Earlier this month, the Labor Department held public hearings to discuss the input and concerns they have received from industry groups and other stakeholders that will be impacted by the department’s proposal to expand the definition of “fiduciary” under ERISA.

In the debate over the DOL’s proposal — which, as written, stands to effectively eliminate commission-based compensation on advice for individual retirement accounts, price small and moderate investors out of the market, and create a vast and costly new regulatory regime for independent firms and advisers across the country — it is absolutely vital that members of our industry understand the content of the proposed rule and how it would impact their businesses.

Read more from InvestmentNews here.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s