DOL ‘On Precipice’ Of Tough Erisa Fiduciary Rule, Says Consumer Advocate

The Department of Labor is on the precipice of unveiling a tough fiduciary standard for professionals giving advice on pension plans, predicted Dennis Kelleher, the president and CEO of Better Markets, a consumer advocacy group, on Thursday. The department is “serious about proposing a rule that is not loophole ridden,” he said during a telephone press conference held by the Institute for the Fiduciary Standard. More on Financial Advisor here.