Labor Department's fiduciary rule would target conflicts of interest

03/12/2014 | Reuters

The Labor Department aims to minimize conflicts of interest through a reproposed fiduciary standard for retirement advice, says Phyllis Borzi, assistant secretary of the Employee Benefits Security Administration. "Whatever business model you want to use is perfectly fine with us, as long as it is not a business model that is entirely based on conflicts of interest," she said. Borzi said the department was working to release its proposal in August, and it would be "very different" from the version proposed in 2011.

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