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Recommending Rollovers in the Evolving Regulatory Environment, Part 2
Drinker Biddle Link to more items from this source
[Guidance Overview]
Sept. 19, 2018

"Reg BI goes beyond suitability. The SEC also says that a rollover recommendation involves a material conflict of interest. This is because a broker-dealer will earn commissions or other fees as a result of the recommendation, whereas 'a recommendation that a retail investor leave his plan assets with his old employer or roll the assets to a plan sponsored by a new employer likely results in little or no compensation for a firm or a registered representative.' ... The SEC goes on to say that broker-dealers have an obligation to mitigate the financial conflict."

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