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Unraveling the Proposed Fiduciary Regs and Explaining 401(k) Plan Sponsor Fiduciary Liability
Fiduciary News; free registration requiredLink to more items from this source
Mar. 10, 2015
"[Fred Reish, of Drinker Biddle & Reath LLP] has a rather interesting take on this whole 'new' thing. 'While we don't know exactly what the proposed regulation will say,' he says, 'it appears safe to conclude that there will be little, if any, change to the requirements faced by RIA fiduciary advisers when they provide investment advice to 401k plans.... [T]he prudent man rule will continue to apply and, as a result, RIA fiduciary advisers will need to engage in a prudent process for selecting and monitoring the investments that are offered to participants.' ... [T]he real advantage of the Rule goes unreported. What's lost in this digressionary debate is the potential impact the Fiduciary Rule can have on plan sponsor fiduciary liability."

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