Department Of Labor Adopts Final Conflict-Of-Interest Rule For Retirement Advice

Mealey's (April 12, 2016, 10:33 AM EDT) -- WASHINGTON, D.C. — The U.S. Department of Labor on April 5 released its final rule defining a fiduciary investment adviser, prohibited transaction class exemptions (PTEs) and a regulatory impact analysis.

(Final rule available. Document #54-160413-104X. Best interest contract exemption available. Document #54-160413-105X. Class exemption for principal transactions available. Document #54-160413-106X. Regulatory impact analysis available. Document #54-160413-107X.)

The rule provides that those that provide investment advice to plans, plan fiduciaries, plan participants and beneficiaries and individual retirement accounts (IRAs) and IRA owners may not accept a fee...
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