MARCH 17, 2016 |
Labor Department Secretary Tom Perez said Thursday the agency is still reviewing the final draft of the proposed fiduciary rule for retirement plan advisors.
He would not predict when it would be publicly released. It is expected to come out in the next several weeks.
The rule would require advisors to put their clients’ financial interests above their own. Perez said the agency is working to make the rule enforceable.
The Blue Vault Summit could not have been more perfectly timed. This gathering of the Broker Dealer and Sponsor communities provided insightful and open discussion from several vantage points. These conversations are paramount, especially in a time of significant regulatory change.