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The latest iteration of the fiduciary rule is out and making waves. What the Retirement Security Rule is, what it says and what it does is dominating industry discussion, so American Retirement Association CEO Brian Graff went directly to the source, speaking with EBSA COO Tim Hauser about its intent and implications.
The two fiduciary ‘veterans’ sit down for a (very) comprehensive discussion of the primary reasons EBSA thought it necessary to update the regulatory definition of investment advice and its goals and objectives.
Broker-dealers, insurance firms and other financial institutions will need to put "policies and procedures" in place in order to be able to seek and receive corrections to ERISA-based fiduciary violations. As always, it boils down to document, document, document. Graff and Hauser discuss.
