Get critical news as it happens


The most comprehensive fiduciary database

View all questions

The Issue

In 2010, the Labor Department proposed a change to the definition of fiduciary, under the Employee Retirement Income Security Act of 1974, that would have significantly expanded the scope of those who become fiduciaries. After facing significant objections from various industry groups and financial services companies, the DOL withdrew its initial proposal and began to conduct further analysis.

In February 2015, President Obama announced that the DOL should move forward with its rule making. Two months later, the DOL announced a re-proposal of the rule, which was followed by a period for public comment. The DOL received 3,530 comment letters on its proposal. On January 28, 2016, the DOL sent the final rule to the Office of Management and Budget. The OMB has up to 90 days to complete its review of this significant regulatory action. If approved, the final rule will be published in the Federal Register. Under the Congressional Review Act, “major rules” must be sent to Congress and the Government Accountability Office for review and may not be enacted until 60 days after it has either been received by Congress or published in the Federal Register, whichever is later.

The DOL fiduciary rule is widely expected to have a significant effect on the financial advisers and the firms they do business with.

Keep coming back to this site for the most up-to-date information on the rule and its impact. If you have a suggestion for a story you don’t see here, please contact IN’s editor, Frederick P. Gabriel Jr. at [email protected]

+ read more- read less


Twitter Chat


Hi! Glad you're here and we hope you like all the great work we do here at arjuna-design. But what we do is expensive and is funded in part by our sponsors. So won't you show our sponsors a little love by whitelisting arjuna-design.com? It'll help us continue to serve you.

Yes, show me how to whitelist arjuna-design.com

Ad blocker detected. Please whitelist us or give premium a try.

Last News

social security widow's pension highest rated index funds td ameritrade holding corporation target retirement 2040 can you receive social security disability and retirement when can i access my 401k without penalty t rowe price inflation focused bond fund comerica hsa vanguard 2025 fund i received a 1099 r for a rollover charles schwab s&p 500 life insurance proceeds taxable income calstrs retirement calculator vanguard mid cap growth index inv social security survivor benefits widow calculator how does a retainer fee work what plans are subject to erisa t rowe price high yield bond fund bank of america merrill lynch graduate franklin federal tax free income fund distribution code 7 on form 1099 r spartan total market index fund advantage class top performing small cap mutual funds first data corporation greenwood village co what is the wash sale rule t rowe price mutual fund performance spousal social security benefit vanguard us growth fund investor shares taxation of annuity withdrawals air traffic controller pension wells fargo student loans return of excess roth ira contributions what companies does blackstone own loomis sayles investment grade bond fund fidelity floating rate high income turbotax federal and state 2014 wells fargo advantage small cap value vanguard long term investment grade