The Department of Labor has issued back-to-back guidance, in the form of frequently asked questions, for advisors as well as for investors and workers regarding its fiduciary rule, which takes effect on April 10.
On Friday, DOL released a 17-page FAQ that included 35 questions and answers related mainly to advisors, covering the various provisions of the rule that "draw lines between fiduciary and non-fiduciary communications," the FAQ states.
At the same time was the release of a 16-page FAQ, which includes 30 questions and answers that Phyllis Borzi, assistant secretary of Labor for the Employee Benefits Security Administration, said are meant to answer questions "especially for workers and retirement investors."
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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.
