Posts tagged BICE.
DOL Hearings Debate "Fiduciary Duty" not "Suitability" Standard for Retirement Accounts

The U.S. Department of Labor ("DOL") recently heard public comment[1] to its proposed regulatory changes implementing a fiduciary duty on any individual receiving compensation for advice tailored to a plan sponsor, participant or individual retirement account owner if that advice seeks to assist the recipient in retirement planning decisions.[2] Currently, a customer does not have a specific private right of action for a breach of contract or a breach of fiduciary duty toward the investment selections within an ERISA plan or an individual retirement account. Put another way ...

Posted in: Department of Labor
Tags: BICE, burr forman, DOL, ERISA, Fiduciary Duty, Retirement Accounts, Securities Litigation & Arbitration, Securities Litigation blog, U.S. Department of Labor
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