Department of Labor publishes conflict of interest rule

Today, the Department of Labor (“DOL”) published its much anticipated and highly controversial Conflict of Interest Rule regarding imposition of a fiduciary standard on advisors providing recommendations for retirement accounts.  Norton Rose Fulbright previously reviewed industry criticism of the anticipated rule as well as measures firms were already taking in anticipation of the rule, including changes to product offerings and fee structures, setting stricter asset requirements for customers, or exiting the broker-dealer space altogether. In…