LABOR: Input due on advice proposal

Comments are due Thursday on proposed rules that aim to ensure that workers receive unbiased investment advice for their 401(k)s and to provide transparency about such retirement plans. Floated in March by the Labor Department, the rules essentially would prohibit financial advisers from receiving compensation derived specifically from investment options chosen by the plan or participants that had been recommended by the adviser. Additionally, computer models used for offering advice would have to be certified as objective and unbiased. For more details, go here.

Related Topics: Regulatory Moves