More than three years after the Dodd-Frank Act gave the Securities and Exchange Commission authority to impose a fiduciary standard on broker-dealers, the SEC is seeking industry input and is months away from deciding whether to propose a rule. The Labor Department, meanwhile, could move forward later this year with a revised fiduciary rule for advisers working with company-sponsored retirement plans and IRAs. Congress is considering a bill that would require the two agencies to work together on their rules.

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