We have spoken before about the liability trap that sponsors of 401k’s fall into; namely that they are fiduciaries for the plan and that exposes them to the participant’s liability. Well now comes the Obama administration through the Dept. of labor proposing new regulations that would make the brokers as providers to 401k’s subject to increasing their standard to that being a fiduciary as well. This is huge news for plan participants but most certainly also for Wall Street itself.