Fiduciary-definition proposal is coming, Borzi says

12/10/2012 | AdvisorOne

The U.S. Labor Department continues its efforts to redefine "fiduciary" under ERISA, and plans to release a proposal in the next few months, says Phyllis Borzi, assistant labor secretary. The proposal will take account of industry feedback and will address concerns about the previous iteration, Borzi said. "The reproposal will be better, clearer, more targeted and more reasonably balanced," she said.

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