What does "DOL" stand for in the context of investment offices?

In the context of investment offices, "DOL" stands for the Department of Labor. This federal agency is crucial in overseeing and enforcing regulations that pertain to employee benefit plans, pensions, and labor-related issues, which also include aspects of investment management and fiduciary responsibilities. The Department of Labor ensures that investment offices and financial professionals comply with laws aimed at protecting the interests of participants in employee benefit plans. Understanding the role of the DOL is essential for anyone involved in investments, as it influences how funds are managed and how fiduciaries must act regarding their clients' interests.