Fiduciary confusion: compliance is key

Author: John Crabb | Published: 14 Jun 2017

There was a quiet fanfare last Friday as the US Department of Labor’s (DoL) fiduciary duty rule came into effect following a two month delay. Far from ringing in a new era of confidence, the hotly disputed rule continues to be shrouded in uncertainty and the retirement sector is no less confused than it was on April 10. In spite of the doubt, market observers have strongly suggested investment funds take necessary measures to comply with the ruling.

As outlined in an IFLR article from February, President Trump showed his dislike for the Obama-era rule – which mandates that investors have to act in the best interest of those saving for retirement –early into his tenure, issuing an executive order on February 3 challenging the duty and calling for a DoL review.

Newly appointed labor secretary Alexander Acosta provoked the most recent bout of uncertainty in a recent op-ed in...


 

 

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