Financial Advisor Magazine Shares Takeaways From Fred Reish on DOL Fiduciary Rule Outlook

In “Tougher DOL Fiduciary Rule May Target One-Time Transaction Fees,” Financial Advisor Magazine shared insights from benefits and executive compensation partner Fred Reish during a Faegre Drinker webinar on how the Department of Labor (DOL) will soon unveil a more expansive fiduciary rule for advisers.

Reish said he expects that the DOL could release a proposal within three to four months. “It’s hard to imagine I’m talking about an old DOL rule that only went into effect last year, but what about the new fiduciary rule that is on the DOL’s regulatory agenda and is the development of a new regulation to define fiduciary advice?” he asked. Reish also addressed two lawsuits seeking to overturn the existing DOL regulation.