The U.S. Department of Labor has issued an updated FAQ document about its recently adopted Conflict of Interest Rule. These FAQs are designed to allow the DOL to clarify important parts of the rule, and will ‘provide you with information about the Rule and...
With the DOL‘s new fiduciary rule and the introduction of the Best Interest Contract prohibitive transaction exemption, questions have arisen regarding the definition of reasonableness when a fiduciary deals with plan fees and costs. Many practitioners and observers...
This week, the U.S. Department of Labor issued its very first FAQ document about the new conflicts of interest rule. The FAQs are designed allow the DOL to clarify important parts of the rule, and head off misunderstandings that could “lead to bad results for...
On September 8, 2016, Wells Fargo Bank accepted responsibility for wrongdoing and agreed to pay over $185 million for abusive practices in cross-selling bank products and services to its customers without their knowledge. Wells Fargo implemented escalating sales goals...
I recently took part in an interview with Finworx on the recent DOL Fiduciary Ruling, as part of their “On Pitch” podcast. Titled “You Either Fi-DO-ciary, or You Fi-DON’T,” this interview is available on the Finworx website or on iTunes, if...