Fiduciary-definition proposal is coming soon, Borzi says

12/10/2012 | AdvisorOne

The Labor Department will rekindle an effort to redefine "fiduciary" under the Employee Retirement Income Security Act sometime in the next few months, Assistant Labor Secretary Phyllis Borzi says. The proposal will take account of industry feedback and will address concerns about the previous iteration, she says. "The reproposal will be better, clearer, more targeted and more reasonably balanced," Borzi said.

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