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Bates & Company, Inc.
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AimPoint Pension
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Regional Vice President of Sales The Retirement Plan Company
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Loan & Distribution Specialist AimPoint Pension
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Defined Benefit Combo Cash Balance Compliance Consultant Loren D. Stark Company (LDSCO)
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Fiduciary Rule Update: DOL Proposes Delay in Compliance with PT Exemptions
Fi360 Nov. 7, 2017
"The three exemptions that would be delayed from full implementation under the fiduciary rule, other than the Impartial Conduct Standards, are [1] various disclosure and other requirements for the Best Interest Contract Exemption (BICE); [2] the class exemption for principal transactions, and [3] inclusion of variable and indexed annuity transactions under BICE.... [The authors] believe it likely that OMB will expedite its review and approve the DOL's request within a few weeks. The DOL, in turn, is then expected to quickly adopt the compliance extension. Of course, DOL must take final action by the end of the year to avoid implementation of the full rule."
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