Insured Retirement Institute: U.S. Department of Labor Unveils New Investment Advice Proposal
The
"We are reviewing the
By establishing a best interest standard that aligns with Reg BI and the NAIC model regulation, the DOL will create a more harmonized state and federal regulatory framework.
"Once we fully evaluate the DOL's new proposal with our members, we will participate in the public comment process to provide input and suggestions," Berkowitz said. "We appreciate the thought and consideration that the Department has made in drafting this proposal and look forward to sharing our members' views with them."
Stakeholders will have 30 days to file comments from the time the proposed rule appears in the
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