Erin Sweeney Comments on Scaled Back Final Version of DOL Fiduciary Rule in BenefitsPRO

"DOL final fiduciary rule: Much ado about nothing?"
04.08.16Erin Sweeney commented on the scaled back final version of the U.S. Department of Labor's (DOL's) recently released fiduciary rule, suggesting that Labor Secretary Thomas Perez fulfilled promises to write a regulation the industry could work with. "The final regulation has significantly retracted from where the DOL started with its proposed rule. They've taken an overarching, expansive and unwieldy proposal and scaled it back to a regulation that industry is going to be able to work with," Sweeney said. "The huge tsunami that everyone thought was on the radar has fizzled out into a ripple in a whirlpool," she said, adding that the rule's outcome is a bit "ho hum."
Related Files
Related Links