Borzi to AdvisorOne: Fiduciary Reproposal Will Include IRAs
Phyllis Borzi, head of the DOL's Employee Benefits Security Administration, told AdvisorOne on Monday that the DOL’s reproposed rule on fiduciary will be applied to IRAs. “We believe it’s a critical part,” of the rule, Borzi told AdvisorOne.
DOL to Repropose Fiduciary Rule
Bowing to pressure from members of Congress, industry groups, and the public, the Department of Labor’s EBSA said on Monday that it would repropose its controversial rule amending the definition of fiduciary under ERISA.