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Dalbar Puts a Sellers' Exemption to Fiduciary Rule on DOL's Desk
ThinkAdvisor Link to more items from this source
Aug. 10, 2017

"In comment letters to the DOL, Empower Retirement and attorneys at Davis & Harmon are among those calling for a so-called sellers' exemption, which would distinguish one-time sales of investments by brokers and insurance agents from fiduciary advice. In its comment letter, Dalbar goes further, and actually submits a proposed sales professional exemption. At its heart, the proposed exemption ... would prohibit brokers and insurance agents from marketing themselves as fiduciaries, something many fiduciary proponents say the [SEC] should have been doing all along."

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