The Department of Labor issued for public comment Tuesday the long-anticipated controversial redraft of its rule to amend the definition of fiduciary under the Employee Retirement Income Security Act.
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Dennis Kelleher, CEO of Better Markets, applauded DOL’s release of its fiduciary plan. “Today is a day Wall Street hoped would never come: the American people get to see and comment on a rule to end a loophole that has allowed Wall Street to put its self-interest above the best interests of Americans saving for retirement. Today’s proposed rule would end that conflict of interest.”
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Read the full ThinkAdvisor article by Melanie Waddell here.
