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DOL's New Fiduciary Rule Would Extend to Salespeople

Financial professionals selling investment products for retirement savings would fall under a tougher regulatory regime under a new rule proposed by the Department of Labor. So reports PlanSponsor.

DOLThe proposed rule would broaden the circumstances when a person providing retirement advice is considered a fiduciary under the Employee Retirement Income Security Act of 1974.

Legal observers predicted that the proposal, which is out for public comment, would face a court challenge if implemented.

Read the full article from PlanSponsor.

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