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Will DOL's Rule Lay an Accidental Fiduciary Trap?
By
Allison Bell
Commentary February 26, 2024 at 02:51 PM
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What You Need To Know
- In the preamble to DOL's proposed fiduciary rule, Labor officials give examples of people, like car dealers or HR employees, who are not subject to the rule.
- Labor officials say that, in the end, a judgment must be made based on the totality of the facts and circumstances.
- Some commenters in the insurance industry worry that fears of becoming an accidental fiduciary could have a chilling effect on financial guidance.
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