Dave O'Brien - financial advisor, NAPFA board member, public policy junkie, and all around good guy - joins us for his second ZebraSmash appearance to provide an update on DOL, SEC and state-level approaches to fiduciary rules.

The high level summary:

1. The DOL fiduciary law is still the law. It's just not being enforced, like bedtime during the summer.

2. The SEC is taking a crack at the fiduciary concept with three proposed rules, all of which are in the public comment period. Nothing says "cool" like reading 1,000 pages of legislative prose at the beach, so here are links to the Proposed Regulation Best Interest, the Proposed Investment Adviser Interpretation, and the Proposed Form CRS Relationship Summary.

3. Some folks at the state level are trying to do the right thing. But did you know there are 50 states? It's hard to keep track of what all of them are doing. If you hear about something in your state, let Dave know.