DOL likely inching close to a full fiduciary rule, analysts say

August 22, 2022 by John Hilton

Virtually the only thing left for the Department of Labor to do with its fiduciary definition rewrite is to essentially make all first-time advice fiduciary, analysts agreed during a Thursday webinar.

If it happens, that change would be significant and basically return the DOL to its initial 2016 fiduciary rule, said Brad Campbell, partner at Faegre Drinker law firm. As it stands, the DOL’s package known as the investment advice rule makes rollover advice fiduciary.

Click HERE to read the full story via INN. 

Originally Posted at InsuranceNewsNet on August 19, 2022 by John Hilton.