Regulatory Outlook | 02.17.21
DOL Will Let Trump Era Fiduciary Rule Stand
The DOL announced that it will let the agency’s fiduciary rule stand, though it will soon provide additional guidance. The rule, which was proposed last year under the Trump administration, went into effect Tuesday. It replaces the defunct Obama-era version and provides an exemption under ERISA for investment advice fiduciaries to receive third-party compensation. However, the rule also has more regulatory teeth than many originally expected.
Read the full article on InvestmentNews.