DOL Asks About Gutting The BIC, Extending Deadline

The U.S. Department of Labor is considering scrapping much of the fiduciary rule’s best-interests contract (BIC) and extending the Jan. 1, 2018 implementation date.

In a request for comment released yesterday, the DOL asked about the implications of eliminating or streamlining the BIC exemption, which would allow the use of brokerage products in IRAs.

from FA News http://www.fa-mag.com/news/dol-asks-about-gutting-the-bic–extending-deadline-33548.html

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