Could Fake Comments Cause the Department of Labor to Reconsider Its Fiduciary Rule?
DANIEL GUERNSEY—On April 8, 2016, the Department of Labor (DOL) published a rule (the “Fiduciary Rule”) that “would treat persons who provide investment advice or recommendations to an employee benefit plan, plan fiduciary, plan participant or beneficiary, [individual retirement account], or IRA owner as fiduciaries.” Previously, only financial professionals that gave advice surrounding employer-sponsored retirement […]