In episode No. 18, of Human Capital, we talk with Phyllis Borzi, former assistant secretary of the Labor Department’s Employee Benefits Security Administration during the Obama administration.

Borzi, who was the architect of Labor’s now-defunct fiduciary rule that was vacated by the U.S. Court of Appeals for the 5th Circuit, talks about what she thinks Labor’s new fiduciary rule to align with the Securities and Exchange Commission’s Regulation Best interest will do. That rule is now being reviewed by the Office of Management and Budget.

Listen in as Borzi also talks about the current political turmoil surrounding SEC Chairman Jay Clayton, as well as the trouble spots the SEC faces in enforcing Reg BI, which takes effect on June 30. A vocal critic of Reg BI, Borzi says implementation of the rule will be critical as it “leaves a lot of ambiguity.”

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