DOL, SEC Rules May Not Be Perfectly Aligned
March 23, 2016 by Julie Anderson
Contrary to some reports, the Department of Labor and the Securities and Exchange Commission have been working together as they each develop their respective fiduciary rules. But this cooperation doesn’t mean the final rules will be perfectly aligned.
DOL will issue the new fiduciary rule this spring. The department is expected to scale back the final regulation from the proposed version by reducing the administrative burden on the financial services industry.
Simultaneously, the SEC has been working on its own Personalized Investment Advice Rule. Congress granted the SEC the authority to set a universal standard of conduct for investment advisors when it passed the Dodd-Frank financial reform bill in 2010. Click HERE to view article
Wink’s Note: INN news articles may require a subscription to view
