Fiduciary-definition proposal is coming soon, Borzi says

12/10/2012 | AdvisorOne

The U.S. Labor Department will rekindle its effort to redefine "fiduciary" under ERISA sometime in the next few months, according to Phyllis Borzi, assistant labor secretary. The proposal will take account of industry feedback and will address various 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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