The 2015 Fiduciary Proposal

The 2015 Fiduciary Proposal

The Department of Labor is the point agency because they oversee the Employee Retirement Income Security Act (ERISA). Most IRAs, however, are not regulated by ERISA; instead, they fall under the jurisdiction of the Internal Revenue Service. But the IRS uses the Department of Labor’s definition of “investment advice,” so IRAs most likely get covered if the government prevails.

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