What changes to look for in the final DOL fiduciary rule
Advocates, opponents of the rule seek similar alterations, and we’ll likely know Wednesday if they were made
Apr 5, 2016 @ 2:15 pm | By Mark Schoeff Jr. | Investment News
As advocates and opponents eagerly anticipate — or brace for — the expected release Wednesday of the final Labor Department rule to raise investment advice standards for retirement accounts, they all are seeking changes to the measure.
The DOL conducted two comment periods on the rule — which would require financial advisers to 401(k) and individual retirement accounts to act in the best interests of their clients — drawing more than 3,000 letters, as well as four days of public hearings last August. Labor Secretary Tom Perez has promised critics of the rule that the agency is listening to their concerns and would modify the proposal before it is finalized.
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