Advisers’ fear of fiduciary-rule lawsuits unfounded, official says

Advisers have no reason to be reluctant to work with clients because they fear class-action lawsuits against them under the Labor Department's fiduciary rule, said Timothy Hauser, the department's deputy assistant secretary. The threshold to file a lawsuit is pretty high, he said, requiring plaintiffs to "show systemic violations."

InvestmentNews (9/16)