The financial industry has picked sides in the fight over the DOL’s proposal to impose the fiduciary standard to retirement account advisers. Will investors win?
The Department of Labor wants to protect consumers from conflicted advice in retirement plans. Some Republicans want to stop the DOL.
The fiduciary standard is the highest standard of care. A fiduciary must only give advice that is in the client’s best interest
President Obama announced in late February that a Department of Labor rule requiring investment professionals to adhere to a fiduciary standard when advising retirement plan participants is being submitted for review by the Office of Management and Budget.
Skewed financial incentives for advisers can lead to less than optimal financial advice. What is the answer to conflicts of interest?
As the year winds down, consumers should tune into the debate over the fiduciary standard. The SEC may decide to move forward with the rule — or drop it.
A rule that could protect investors has been delayed until 2015. The proposal from the DOL would expand the fiduciary standard to more retirement plan advisers.
A rule on a fiduciary standard for broker dealers is on hold but still alive.
The House of Representatives harms investors by passing a bill that purports to protect them.
The SEC is close to formulating a rule on equity crowd funding.