The Department of Labor plans to provide a "fair measure" of guidance on its rule to amend the definition of fiduciary on retirement advice and is eager to hear from advisers and stakeholders about their concerns, Timothy Hauser of the DOL's Employee Benefits Security Administration said Tuesday.
"Any problems you're wrestling with, we'd love to hear from you," said Hauser, EBSA's deputy assistant secretary for program operations and one of the main architects of the DOL's conflicts of interest rule. "I'd much rather give advice out early then to have you build systems and then we say, 'they don't comply.'"
Hauser spoke Tuesday at the Investment Company Institute's conference in Washington on assessing the policy and practical challenges of the DOL's rule.
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Melanie Waddell
Melanie is senior editor and Washington bureau chief of ThinkAdvisor. Her ThinkAdvisor coverage zeros in on how politics, policy, legislation and regulations affect the investment advisory space. Melanie’s coverage has been cited in various lawmakers’ reports, letters and bills, and in the Labor Department’s fiduciary rule in 2024. In 2019, Melanie received an Honorable Mention, Range of Work by a Single Author award from @Folio. Melanie joined Investment Advisor magazine as New York bureau chief in 2000. She has been a columnist since 2002. She started her career in Washington in 1994, covering financial issues at American Banker. Since 1997, Melanie has been covering investment-related issues, holding senior editorial positions at American Banker publications in both Washington and New York. Briefly, she was content chief for Internet Capital Group’s EFinancialWorld in New York and wrote freelance articles for Institutional Investor. Melanie holds a bachelor’s degree in English from Towson University. She interned at The Baltimore Sun and its suburban edition.
