Why Plaintiffs Firms Will Love DOL's New Fiduciary Rules

Law360, New York (April 6, 2016, 10:20 PM EDT) -- The U.S. Department of Labor’s fiduciary rules give more power to retirement savers, experts said, providing investors and their attorneys an important new tool to bring claims when they suspect their broker-dealer doesn’t have their best interests at heart.

“As night follows the day, there will be more litigation,” Skadden Arps Slate Meagher & Flom LLP partner Seth Schwartz said of the new rules, which require financial professionals advising retirement accounts to act in their client’s interest when recommending investment products.

Experts said that the regulation’s...
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