All signs in Washington indicate that the Department of Labor is sticking to its plan to make public its re-proposed fiduciary rule under the Employee Retirement Income Security Act in October. The fiduciary rule's "train has left the station" and is on its way to the Office of Management and Budget, said Fred Reish, partner and chairman of the financial services ERISA team at Drinker Biddle & Reath in Los Angeles. The AICPA believes that the DOL should implement rules to ensure only qualified individuals prepare valuations for benefit plans and that individuals follow recognized valuation standards. Read more.
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