Attorney: DOL increases its scrutiny in looking for improper fees

10/31/2011 | InvestmentNews (free registration)

The Labor Department is increasing its scrutiny of potentially improper or undisclosed fees, attorney Fred Reish wrote in a recent bulletin. "Providers such as broker-dealers who do not acknowledge fiduciary status ... may nonetheless become functional fiduciaries by virtue of providing individualized advice or being able to set their compensation," he wrote.

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