Fiduciary Rule Rewrite From DOL Under Final White House Review

The Labor Department’s latest rewrite of the Obama-era fiduciary rule was sent to the White House Tuesday for a final review, the last substantial step before it’s published in the Federal Register and goes into effect.

The rule is one of three major proposals released this summer by DOL’s Employee Benefits Security Administration that affect fiduciary responsibilities and benefits plans focused on environmental, social, and corporate governance funds.

The Improving Investment Advice for Workers and Retirees rule [RIN: 1210-ZA29] would ease restrictions on financial advisers by reinstating the 1975 regulation from the Employee Retirement Income Security Act that ...