“The final version of the Department of Labor’s rule to amend the definition of fiduciary under the Employee Retirement Income Security Act is expected sometime next year. Under ERISA, advisors would be prohibited from engaging in transactions that entail conflicts of interest for the client unless there is an exemption. Advisors and clients would be required to sign best interest contract exemption contracts, in which broker-dealers and advisors acknowledge the new fiduciary standards and their impartial conduct codes. The DOL’s fiduciary rule also requires information on exactly what and who gets paid via product sales to be published in detail on publicly available websites.”
http://www.thinkadvisor.com/2015/11/23/dol-fiduciary-rule-is-biggest-change-that-well-go?page_all=1
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