"The department is drafting new regulations that are expected to broaden the definition of an investment advice fiduciary ... into banking and insurance products.... Backed by consumer activists, [EBSA] says it wants to protect hard-earned nest eggs against investment industry bad actors charging higher fees, while banks and insurers argue that stricter standards are crippling and threaten to strip retirees' access to lifetime income options. Now, though, members of the regulated community say they believe the tide is turning in their favor."

MORE >>