Earlier today, the Department of Labor (DOL) released the Conflict of Interest Final Rule. Click here to explore all 200+ pages. Among other things, this rule expands the definition of fiduciary, and requires that persons who give investment advice to retirement investors act in the best interests of those investors.
The DOL released significant additional guidance in connection with the Final Rule, including the best interest and principal transaction exemptions, a chart illustrating changes from the proposed rule, and FAQs. To access that additional guidance click here. We will examine the Rule in further detail, as well as the industry’s reaction to it, in future posts.