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Wednesday, April 6, 2016

White House Unveils Department of Labor’s Fiduciary Regulations

On Wednesday, the Obama administration released new regulations for retirement investment advisers, requiring them to meet “fiduciary” standards for their clients and penalizing advisers if they do not uphold these standards. Under the new regulations, investment advisers will be prohibited from receiving compensation if they encourage clients to pursue an investment that will benefit the firm more than the consumer. Compliance to the new regulations will not be required until the beginning of 2018.

Read the White House Press Release.