More than six years have passed since the U.S. Department ofLabor first rolled out its fiduciary rule for the retirement industry, butwhether that rule becomes effective in early June, as now planned,still remains uncertain.
Despite the delay, analysts say the mere threat of thefederal rule going live — along with a decade of class actionlitigation — already has wrought changes to an industry more in thepublic view than ever before. As the attorneys who representcompanies parse the fine print to ensure legal compliance shouldthe rule stand, some observers predict many companies will adoptstricter standards for a simpler reason: good business.
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