A last-minute Bush administration regulation that would permit advice in 401(k) plans was called into question Tuesday by a number of consumer advocates and other experts who testified before the House Committee on Education and the Workforce.

The proposal, finalized on Jan. 20, would potentially permit plan administrators to give self-interested financial advice to participants. Witnesses testified that it would permit financial advisers to charge higher fees and give conflicted investment advice on products in which they have a financial interest.

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