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The Department of Labor is appealing two stays placed by Texas courts on its new fiduciary rule for retirement-related advice.
The rule, released in April, was scheduled to take effect on Monday but was instead postponed by preliminary injunctions handed down in late July by a pair of federal district courts in Texas.
Dan Shaw is Financial Planning's wirehouse and bank channel reporter, covering the intersection of wealth management, banking and brokerages. His reporting background in regulation and disciplinary … Read full bio
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While the legislation's future is still unclear, there are many important things for leaders to know.
A pensions specialist explains why fiduciary responsibility extends beyond investment oversight and how proper safeguards serve as a critical layer of protection.
Industries that rely on independent contractors should review potential impacts of the new rule and make sure their independent contractor documentation is squared away.
Advisers should ensure clients have a realistic payment-integrity solution on the front end and robust claims recovery program on the tail end for capturing overpayments.
With raised fiduciary expectations, the health benefits market will move toward more transparent, level-fee structures and fiduciary-aligned advice.
