Michael Renetzky Comments in Regulatory Compliance Watch on Confusion Surrounding New DOL Fiduciary Rule Guidance

Michael Renetzky, Co-Chair of Locke Lord’s Corporate and Transactional Department, Chair of the Firm’s Finance Committee and Managing Partner of its Chicago office, commented on a statement issued by the Department of Labor on the new DOL fiduciary rule guidance and continuation of its policy of non-enforcement that has caused some confusion. Renetzky noted that “firms that crafted compliance P&Ps to comply with the DOL’s impartial conduct standards would be wise to keep them” and that “these standards seem to fit nicely with the SEC’s proposed investment adviser fiduciary duty interpretation.”

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