DOL to Issue New Rules on Fiduciary Duties: Acosta

May 2, 2019 by Melanie Waddell

Labor Secretary Alexander Acosta signaled Wednesday that the Labor Department will issue new fiduciary-related rules.

In an exchange during an oversight hearing held by the House Education and Labor Committee, Rep. Marcia Fudge, D-Ohio, questioned Acosta on Labor’s fiduciary plans.

Acosta said that Labor is collaborating with the Securities and Exchange Commission as it works on its advice-standards package, which includes Regulation Best Interest, and that “based on our collaborative work, we will be issuing new rules in this area.”

Here is Acosta’s exchange with Rep. Marcia Fudge, D-Ohio:

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Originally Posted at ThinkAdvisor on May 1, 2019 by Melanie Waddell.