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DOL Investigates Broker-Dealers and RIAs

According to a DrinkerBiddle legal alert, in recent months the Department of Labor has launched a number of investigations into broker-dealer services to ERISA retirement plans.  These appear to be part of a nationwide enforcement project called the Consultant/Adviser Project (CAP) which focuses on improper compensation received by employee benefit plan consultants and investment advisers.  In the legal alert, DrinkerBiddle discusses the background that led to the creation of CAP, important issues in this area for financial advisers and steps advisers may wish to take to avoid liability exposure under ERISA.