On April 6, 2016, the same day the U.S. Department of Labor issued its new fiduciary rule, the White House set forth the reasons for and implications of it, including the following:
A New Era for Fiduciary Duty Part 2: Details of the Rule Change
A New Era for Fiduciary Duty Part 1: Overview
In the spring of 2016, the Department of Labor and the White House announced dramatic changes in the obligations of brokers in retirement accounts. A month before the April 2016 announcement, at SIFMA's 2016 Compliance & Legal Society Annual Seminar, the soon-to-be-announced Department of Labor fiduciary rule for retirement accounts was the subject of much conversation and analysis.
