The Department of Labor's controversial proposal for extending fiduciary responsibilities to brokers working with retirement plans will likely include significant exemptions permitting common business practices such as commissions and revenue sharing, according to people familiar with the drafting of the rules.

The DoL's proposal, intended to crack down on conflicts of interest in the retirement sector, is being sent to the White House's Office of Management and Budget for review -- the next step before it would be released to the public -- on Monday, according to published reports.

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