Employers could provide employees investment advice under house bill.

• Position: News briefs - Brief Article

Employers would be able to offer professional investment advice (including advice on how to invest for retirement) to their employees under a bill passed recently by the House of Representatives that is supported by the accounting profession. H.R. 2269 would repeal the Employment Retirement Income Security Act's ban on investment advice paid for by employers, with some restrictions, so those employers would not be held responsible for professional financial advice they make available to their employees. Under the bill, employers could provide financial advice to their employees by contracting with investment advisers registered under state or federal law, banks, insurance companies and registered brokers or...