DOL's Fiduciary Rule Proposal Would Extend ERISA's Reach

Summary

Law360 (October 31, 2023, 7:02 AM EDT) -- The U.S. Department of Labor unveiled a proposal Tuesday to expand which investment advisers are subject to the Employee Retirement Income Security Act's strict conflict-of-interest standards, five years after the Fifth Circuit killed the agency's prior attempt to define who qualifies as an ERISA fiduciary.