In an article published by InvestmentNews, Bass, Berry & Sims attorney Doug Dahl provided insight on the Department of Labor's (DOL) decision to remove its FAQs document regarding the fiduciary rule from its website. The FAQs provided numerous questions for investors to pursue with their advisers based on the requirements of the DOL fiduciary rule, which raises investment-advice standards in retirement accounts. Doug stated that it is "'hard to know' exactly what the FAQ removal means, but said that removing this sort of 'informal guidance' doesn't have to go through a stringent regulatory process similar to a sought-after delay in the fiduciary rule."
The full article, "DOL Removes Consumer FAQs on Fiduciary Rule from its Website," was published by InvestmentNews on March 3, 2017, and is available online.
The quote was also featured in the article, "DOL Removes Fiduciary Rule Consumer Guidance," published by Financial Advisor IQ on March 9, 2017, also available online.