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Hearings on Proposed Conflict of Interest Regs Kick Off in Washington
PLANSPONSOR; free registration may be required Link to more items from this source
Aug. 10, 2015

"There is perhaps no better venue than a marathon Labor Department hearing to show what practices and beliefs most divide an industry.... Marilyn Mohrman-Gillis, CFP Board managing director of public policy and communications ... argued against the common industry conjecture that the new fiduciary rule, as written, would severely challenge the commissioned-based broker/dealer business model and force advisers into fee-based models that will be may be more expensive for consumers.... Citing figures from the U.K., where related conflict of interest rulemaking was debated and adopted, [Nick Lane, chairman of the board of directors for the Insured Retirement Institute] predicted up to 25% of advisers 'could leave the industry within the first year of implementation of this rule.' "

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