September 28, 2020

DOL ‘Best Interest’ Proposal Not Aligned With Federal, State Rules

Bloomberg Law

In his article for Bloomberg Law, insurance partner Jim Jorden reviews the Department of Labor (DOL)’s proposed class exemption (proposed exemption) for investment advice fiduciaries and its “best interest” standards. Jorden writes that the DOL’s proposed exemption to rules that would allow more latitude for financial professionals who advise plan participants with regard to retirement account investments doesn’t align with other federal and state standards. In “DOL ‘Best Interest’ Proposal Not Aligned With Federal, State Rules,” Jorden suggests revisions to allow the marketplace to provide equal access to both annuities and securities, better serving to protect and benefit the public.
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