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Definition of the Term ‘‘Fiduciary’’ (February 3, 2011)

Date Published: 
Thursday, February 3, 2011

The Department of Labor has proposed a regulation expanding the definition of the term "fiduciary". These regulations define when someone giving investment advice to participants in a 401(k) (or to the people running the plan) must act only in the interests of the participants in the plan, and not in their own self-interest.

Read the Center's blog entry and comments on this proposed regulation. Following the testimony of Norman Stein before the Department of Labor about the importance of expanding the definition of the term, the Center submitted supplemental comments on the proposed rule.