Finally Out: New DOL Fiduciary Rule
December 16, 2020 by Mrinalini Krishna
The Department of Labor today unveiled the final version of its new fiduciary rule, creating a new prohibited transaction exemption that it says aligns with the SEC’s Regulation Best Interest.The rule pertains to advisors working with workplace retirement plans, rollovers, or clients’ individual retirement accounts.
“Today’s action provides clear regulatory standards that ensure American workers and retirees have access to high-quality, affordable investment advice,” said Secretary of Labor Eugene Scalia in a statement.
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