US Department of Labor announces a public hearing on proposed definition of fiduciary regulation

WASHINGTON – The U.S. Department of Labor’s Employee Benefits Security Administration will hold a public hearing on March 1, 2011 and if necessary, March 2, 2011, on the proposed regulation amending the definition of the term “fiduciary.” The hearing will begin at 9 a.m. EST in the department’s auditorium, 200 Constitution Ave. N.W. in Washington.

To ensure that all interested persons have the opportunity to prepare and submit comments on the proposed rule, EBSA will be accepting public comments until Feb. 3, 2011, two weeks after the close of the Jan. 20, 2011 comment period provided in the proposed regulation. The hearing is open to the general public and the hearing agenda will be available on EBSA’s website at http://www.dol.gov/ebsa.

This event is open to news media.

What: Hearing on proposed definition of fiduciary

Who: Employers, 401(k) participants and representatives, financial institutions, securities industry and benefit professionals

When: March 1, 2011, and March 2, if necessary, 9:00 a.m. EST

Where: U.S. Department of Labor Auditorium
200 Constitution Ave. N.W.
Washington, D.C.

Media planning to attend the hearing are requested to notify the Labor Department’s Office of Public Affairs at 202-693-8666.

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U.S. Department of Labor releases are accessible on the Internet at http://www.dol.gov. The information in this news release will be made available in alternate format (large print, Braille, audio tape or disc) from the COAST office upon request. Please specify which news release when placing your request at 202-693-7828 or TTY 202-693-7755. The Labor Department is committed to providing America’s employers and employees with easy access to understandable information on how to comply with its laws and regulations. For more information, please visit http://www.dol.gov/compliance.