Kenneth E. Bentsen, Jr. on the Definition of Fiduciary


The Employee Benefits Security Administration (EBSA) of the U.S. Department of Labor held a hearing to consider issues related to adopting a regulation defining when a person is considered to be a “fiduciary'” by reason of giving investment advice to an employee benefit plan or to a plan’s participants and beneficiaries.

Kenneth E. Bentsen, Jr., Executive Vice President, Public Policy and Advocacy, SIFMA testified along with employers, 401(k) participants and representatives, financial institutions, and benefit professionals.