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To BICE or Not to BICE, That Is the Question.
The Prudent Investment Adviser Rules Link to more items from this source
June 8, 2016

"Under the new fiduciary rule, plan sponsors have an opportunity for significant power in vetting potential service providers and establishing the terms of any engagement. They also have an increased liability exposure in connection with same.... [O]ne can legitimately ask why a plan sponsor would not require that a potential service provider agree not to ask plan participants to enter into a BICE agreement, since a BICE agreement essentially asks a plan participant to allow the service provider to engage in the very sort of abusive conflict-of-interest conduct that drove the passage of the rule and BICE."

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