On Monday, the White House and the Department of Labor publicized efforts to target conflicts of interest in managing employee retirement funds. In essence, the Administration is promoting the DOL’s much–beleaguered proposal to more broadly define who constitutes a “fiduciary” for the purposes of rendering investment advice under the Employee Retirement Income Security Act (ERISA). According to a White House fact sheet, the DOL will issue its proposed fiduciary rule in the coming months. Notably, the agency withdrew its initial fiduciary rule in 2011 after the proposal faced significant opposition from the employer community.
Home > Federal Law Articles > Employee Benefits > Fiduciary > White House and DOL Begin Revised Fiduciary Rule Marketing Campaign