Tag: Fiduciary Standards
How important was the 1974 legislation compared to other factors? This year is the 50th anniversary of the Employee Retirement Income Security Act of 1974 (ERISA), so Yale Law School professor John Langbein’s recent article “ERISA’s Role in the Demise of Defined Benefit Pension Plans” seemed timely. My view is that a lot of factors…
Industry Reaction Are Slightly Hysterical. The Department of Labor (DOL) is expected to re-propose regulations that will create fiduciary responsibilities for financial services providers. The form that the proposed regulations will take is not yet known. In 2010, the DOL proposed eliminating third-party incentive payments (such as 12b-1 fees) that encourage broker-dealers and others to…
