DOL To Rework ERISA Fiduciary Rule

Law360, New York (September 19, 2011, 6:08 PM EDT) -- A U.S. Department of Labor proposal to protect retirement plan participants from conflicts of interest by broadening the definition of fiduciary under the Employee Retirement Income Security Act is going back to the drawing board, the agency said Monday.

The DOL's Employee Benefits Security Administration said it expected to repropose the fiduciary definition rule in 2012, and that the decision stemmed in part from requests from members of Congress and the public for more opportunities to provide input.

The original proposed rule, published in the Federal...
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