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Who will enforce the DOL rule?

Assistant Secretary of Labor Phyllis Borzi acknowledges DOL "does not have direct enforcement authority over IRAs.

By Nick Thornton | Updated on June 01, 2016
Assistant Labor Secretary Phyllis Borzi (photo: AP)

The question of how the Department of Labor’s fiduciary rule will be enforced was the “most difficult” challenge regulators faced in crafting the rule, according to Assistant Secretary of Labor Phyllis Borzi.

The head of the Employee Benefits Security Administration addressed fiduciaries and consumer advocates in Philadelphia this week, at an event hosted by the Institute for the Fiduciary Standard, a think tank that advocates for a fiduciary standard of care on all investment advice.

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Nick Thornton

Nick Thornton

Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.

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