DOL Fiduciary News: January 4, 2017
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SEC Issues DOL Fiduciary Rule Guidance for Mutual Funds
ThinkAdvisor; January 3, 2016
The Securities and Exchange Commission has released guidance to help mutual funds streamline the process of offering certain fee structures that are designed to achieve level compensation consistent with the Department of Labor’s fiduciary rule, which takes effect on April 10.
The seven-page guidance (https://www.sec.gov/investment/im-guidance-2016-06.pdf), issued by the Division of Investment Management in December, focuses on disclosure issues and certain procedural requirements with offering variations in mutual fund sales loads and new fund share classes.