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DOL releases first batch of FAQs on fiduciary rule

November 1, 2016

DOL releases first batch of FAQs on fiduciary rule

Agency answers 34 adviser questions pertaining to the regulation’s exemptions, including the best-interest contract exemption

Oct 27, 2016 @ 12:48 pm | By Greg Iacurci | Investment News

The Labor Department issued its first set of answers to frequently asked questions about the fiduciary rule Thursday.

The FAQs, based on input received from financial services firms and other stakeholders, are “an important part of the regulatory process as they allow the department to clarify important parts of the rule and head off misunderstandings that could lead to bad results for retirement savers, or financial services professionals,” Phyllis Borzi, the rule’s main architect, said in a blog post Thursday.

In total, there are 34 questions and answers in the first wave of FAQs.

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Loreen M. Gilbert, CIMA, AIF, CRC, CLTC – President, WealthWise Financial Services
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