Labor Department to issue rule on giving investment advice to workers

11/24/2009 | Workforce online

After delaying the rule multiple times since the start of the Obama administration, the Labor Department expects to issue for comment a rule on investment advising in the next few months. The rule would allow representatives of mutual fund companies to offer investment advice directly to employees with defined-contribution plans. Administrative tangles have been the primary cause for the delay, but when the rule is released for comment, industry groups are expected to respond with feedback about some of the logistics it entails.

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