A game-changing federal regulation on retirement investment advice may be overturned by the Trump administration, but many in the HR industry expect the spirit of the law to remain, even if the letter of the law is repealed.
The fiduciary rule, put into place by the Obama administration, was designed to require that financial advisors act in the best interest of their clients, to ensure that commissions and other considerations do not sway advisors to promote inferior products.
On Feb. 3, President Trump delayed implementation of the rule and ordered the Department of Labor to review it. His administration is highlighting the fiduciary rule as one of several Obama-era regulations that they say are too burdensome and should be undone.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
