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DOL Fiduciary News: April 12, 2016

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Could U.K. retirement program expansion offer U.S. answers?; April 11, 2016

Are workers in the U.K. better prepared for retirement than those in the U.S.?

And could actions taken by the U.K. government offer possible solutions to the impending U.S. retirement crisis?

Fiduciary Opponents to DOL: See You in Court?

InsuranceNewsNet; April 8, 2016

Opponents and analysts of the Department of Labor’s controversial fiduciary rule long predicted litigation would greet its publication.

Now that the final rule is out, insiders are even more convinced that lawsuits are on the way.

DOL rule: Expect changes to products, distribution & compensation; April 11, 2016

With the Department of Labor’s much anticipated conflict-of-interest or fiduciary standards now finalized, industry stakeholders are offering varying assessments on the regulatory impact. Among the prognosticators: Fitch Ratings.

The international credit ratings agency stated in a comment letter issued shortly before publication of the finalized regulations that it expects changes to product offerings, distribution strategies and compensation structures. The new rules, Fitch asserts, will also lead to increased operational costs for insurers and advisors endeavoring to comply with the new standard. 

What is 'reasonable' cost under DOL's fiduciary rule? Well, it depends 

InvestmentNews; Apr 11, 2016 @ 12:01 am

What is “reasonable” compensation? It's a question brokers may not have considered prior to the Labor Department's recent push to regulate investment advice in retirement accounts.

However, brokers need to start paying attention, because this seemingly simple question will have a big influence on the way they are able to do business in qualified retirement accounts going forward.

Roboadvisers set to capitalize under new U.S. retirement plan rule 

Reuters; Mon Apr 11, 2016 2:23pm EDT

A new U.S. rule protecting retirement funds from commission-paid brokers could be good for roboadvisers, a fast-growing sector that manages money with algorithms who may collect new clients fired by other firms because their accounts are too small.

While it is not clear how much money is at risk of leaving bigger firms because of the new rule, industry trade groups say the costs of compliance will be high.

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