DOL’s Gomez Lays Out Fiduciary Rule’s Chief Goals
December 19, 2023 by Melanie Waddell
Kicking off a two-day online public hearing on the Labor Department’s new fiduciary proposal, Lisa Gomez — assistant secretary of Labor for the Employee Benefits Security Administration — outlined Tuesday morning the new plan’s multi-pronged goal.
The “chief aim” of the Retirement Security Rule: Definition of an Investment Advice Fiduciary, Gomez said during her opening remarks, “is to make sure that when individual retirement investors turn to investment professionals for sound advice rooted in their best interest, they get just that — advice that is prudent, loyal, candid and free from overcharges.”
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