While last week's proposed Department of Labor conflict of interest rule made substantial revisions to 2010's proposal, one carve out affecting providers of financial and investment education remained intact.
As with the DOL's initial effort, the new proposal states that providers of "information and materials that constitute 'investment education' or 'retirement education'" will not be considered fiduciaries under a new rule.
Though the consistency suggests regulators' desire to protect participants' access to financial education, at least one of those providers thinks the relatively safe provision of the rule is in need of further definition and clarification.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical BenefitsPRO information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
- Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events
- Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
