DOL Changes Fiduciary Rule Advice Definition Scope

April 30, 2024 by Allison Bell

Officials at the U.S. Department of Labor say they have narrowed the scope of the investment advice fiduciary definition.

Department officials posted a preview version of the final rule Tuesday. The final rule is set to go in the Federal Register, an official government regulatory publication, Thursday. If implemented as written, it will affect how regulators apply the Employee Retirement Security Act fiduciary requirements to people and companies that help retirement savers manage the assets in 401(k) plans and individual retirement accounts.

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Originally Posted at Think Advisor on April 23, 2024 by Allison Bell.