Tag: fiduciary
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Proposed labor rule defining requirements for investment advisers receives more than 8,900 comments
The Biden administration on November 3 released a proposed rule aiming to expand the definition of a fiduciary—someone who must act in the best interests of their clients—to include more types of financial professionals in certain situations. The proposal had received more than 8,900 public comments as of December 15. The rule is related to…