Wednesday, September 21, 2011

Department of Labor Announced it Will Re-Propose its Rule on the Definition of Fiduciary

The Department of Labor announced today that it would "re-propose" its rule on the definition of a fiduciary with respect to providing investment advice to pension plan participants. The Department received 260 comments on its first proposed rule causing it to re-examine its effort to amend the existing 1975 regulation. The Department expects to issue its new proposed rule in early 2012.The announcement can be found here.

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