Simple disclosure of conflicts touted by opponents of DOL fiduciary rule not effective

May 24, 2017 by Fred Barstein

Now that the industry knows the DOL fiduciary rule will go into effect on June 9, it’s important to step back and understand what’s at stake and who stands to benefit from — or be hurt by — potential revisions to the rule, which may happen before the end of the year.

Some groups like the Investment Company Institute and Securities Industry and Financial Markets Association wanted the Securities and Exchange Commission to be the first mover with a fiduciary standard for investment advice, while others are pushing for simple disclosure rather than elimination of conflicts of interest.

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Originally Posted at InvestmentNews on May 24, 2017 by Fred Barstein.