DOL to Re-Propose Definition of Fiduciary

The Department of Labor plans to re-propose its rule on the definition of a fiduciary. The agency anticipates revising provisions of the rule including, but not restricted to, clarifying that fiduciary advice is limited to individualized advice directed to specific parties, responding to concerns about the application of the regulation to routine appraisals, and clarifying the limits of the rule's application to arm's-length commercial transactions, such as swap transactions. Click here for more details.