The federal government will soon re-release its proposed rules defining who is a fiduciary when it comes to employee retirement plans.
The U.S. Department of Labor first released a proposal in October 2010, hoping to make anyone who gives retirement advice a fiduciary. The purpose was to close a loophole in the rules that allowed investment brokers to give advice to people about what they should include in their individual retirement accounts, while at the same time accepting commissions on the investments they recommend.
