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diabeticman

(3,121 posts) Fri Aug 14, 2015, 09:28 PM Aug 2015

Just saw an Advertisement talking about Congress screwing up 401K plans making it harder for people

to get info about their plans and harder to invest. Anyone know anything about this ad? My wife said it smelled Republican ad in nature.

4 replies

= new reply since forum marked as read

Highlight:

Just saw an Advertisement talking about Congress screwing up 401K plans making it harder for people (Original Post) diabeticman Aug 2015 OP

The DOL just had a three day hearing period on the proposed rule BayouBengal07 Aug 2015 #1

Thank you. diabeticman Aug 2015 #2

so, this makes it harder to invest? PowerToThePeople Aug 2015 #4

Yah, I saw that and wondered what the heck is this all about....now I know. Thanks. eom a kennedy Aug 2015 #3

BayouBengal07

(1,486 posts)

1. The DOL just had a three day hearing period on the proposed rule

Reply to diabeticman (Original post)

Fri Aug 14, 2015, 09:34 PM

Aug 2015

Hence the ads.

Basically, it would require financial advisors to state in their contracts that they have a fiduciary duty to act in the best interests of their client. The financial advisor and broker/dealer communities are up in arms.

More info can be found at the DOL website for the reg:

[link:http://www.dol.gov/ebsa/regs/conflictsofinterest.html|