June 30, 2020 / 11:17 PM / 3 days ago

DOL proposes new exemption for investment advice fiduciaries

The U.S. Department of Labor has proposed a new exemption that would allow fiduciaries providing retirement investment advice to receive compensation that would otherwise raise a conflict of interest.

The rule, announced Monday, would replace a rule proposed by former President Barack Obama’s administration that was struck down by a federal court in 2018. That rule had sought to prevent advisors from steering investors toward transactions that personally benefit them.

To read the full story on Westlaw Practitioner Insights, click here: bit.ly/3dOYDya

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