Information Request From DOL Bodes New Requirements For Plan Fiduciaries

The Department of Labor has sent out a Request for Information (RFI) about so-called “brokerage windows.” This could signal an interest in establishing additional regulations for sponsors of retirement plans, according to a post from Dechert LLP attorneys Susan M. Camillo and Andrew L. Oringer. Brokerage windows allow a plan participant to direct trading among a variety of choices, such as stocks, bonds, and mutual funds. The Labor Department says the purpose of the RFI is to collect information about why, under what circumstances and how often brokerage windows are offered, and to understand the legal and policy issues that might relate to them. A comment period on the RFI runs until November 19.