Regulatory & Compliance | 10.06.26
New Bill Would Require 'Best Interest' Retirement Advice
by: Allison Bell
The proposed Workers’ Retirement Savings Protection Act of 2026 would require financial advisors to provide retirement investment recommendations in clients’ best interests, including one-time advice on 401(k)s, IRAs and rollovers. Introduced in the House on Oct. 1, the bill aims to close regulatory loopholes, expand fiduciary obligations and prevent conflicts of interest involving commissions and other compensation. It responds to court decisions overturning previous federal fiduciary rules and would replace the existing five-part test for determining fiduciary status.
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