The U.S. Labor Department may issue a fiduciary-duty regulation for retirement-plan advisers this year, although the proposal is controversial and its adoption remains uncertain, Kenneth Corbin writes. In other issues for 2013, legislative debate on a self-regulatory organization for advisers seems to have stalled, and one insider says that even if such a bill is introduced, it is unlikely to become law. At the Securities and Exchange Commission, a uniform fiduciary standard and money market fund reform are issues to watch this year, Corbin writes.

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