In order for regulation to have impact, it must be enforced, including having a means for enforcement, so let’s review how the new fiduciary rule and best interest contract exemption requirements will be overseen.

For any fiduciary advice pertaining to ERISA plans, the Labor Department can continue to carry out enforcement as it has in the past; in addition, allegedly harmed participants have the right to sue in court (ERISA-related lawsuits have had a significant impact on the employer retirement plan space in recent years).

Register or login for access to this item and much more

All Financial Planning content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access