The DOL releases its final conflict of interest, Fiduciary Regulations under ERISA Section 3(21).

Document Excerpt

SUMMARY: This document contains a final regulation defining who is a “fiduciary” of an employee benefit plan under the Employee Retirement Income Security Act of 1974 (ERISA or the Act) as a result of giving Investment Advice to a plan or its participants or beneficiaries. The final rule also applies to the definition of a “fiduciary” of a plan (including an individual retirement account (IRA)) under the Internal Revenue Code of 1986 (Code). The final rule treats persons who provide investment advice or recommendations for a fee or other compensation with respect to assets of a plan or IRA as fiduciaries in a wider array of advice relationships.
Link

https://s3.amazonaws.com/public-inspection.federalregister.gov/2016-07924.pdf