TITLE

Potential redefinition of the term fiduciary raises concerns

AUTHOR(S)
Davis, Andrea
PUB. DATE
May 2011
SOURCE
Employee Benefit News;May2011, Vol. 25 Issue 6, p1
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article focuses on the concerns on the rule proposed by the U.S. Department of Labor (DOL) to update the definition of the term fiduciary under the Employee Retirement Income Security Act. Chief counsel Greg Dean says that the DOL has made a regulatory proposal which indicates that a person can be considered as a fiduciary unless the certain requirements are met. Meanwhile, president Charlie Nelson raised the concern that some of the provisions will set the retirement industry back 25 years.
ACCESSION #
61014480

 

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