DOL fiduciary rule has enforcement gaps — and they could widen

September 13, 2017 by Greg Iacurci

The Department of Labor’s fiduciary rule, as it’s currently written, has some enforcement gaps. And they could widen, especially for annuity products, depending on how the Trump administration’s review of the rule shakes out.

The primary enforcement mechanism of the Obama-era regulation, which raises investment advice standards in retirement accounts, is a “best-interest contract” between an investor and financial institution such as a broker-dealer.

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Originally Posted at InvestmentNews on September 11 ,2017 by Greg Iacurci.