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Rating:Fidelity Gets a Jump on New 401k Reg Compliance Not Rated 3.0 Email Routing List Email & Route  Print Print
Monday, June 11, 2012

Fidelity Gets a Jump on New 401k Reg Compliance

News summary by MFWire's editors

The 401(k) industry faces July 1 and August 30 deadlines to comply with new fee disclosure regulations from the Department of Labor (DoL), and Ned Johnson's team is getting press for being ahead of the game.

Fidelity [profile] spokesman Mike Shamrell confirmed to MFWire.com that the Fidelity team started sending out participant notices in April, with "several million" sent since. Jessica Toonkel of Reuters picked up on the Boston Behemoth's move.

Citing unnamed sources, the wire service said that Fidelity's call centers have only received about 600 calls so far on the disclosures. Perhaps fee disclosure will not shake up participants and plan sponsors much. 

Edited by: Neil Anderson, Managing Editor

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