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SEC Adds Fuel to the Best-Interest Fire
Morningstar; free registration may be required Link to more items from this source
Apr. 20, 2018
"The SEC rule diverges from the [DOL's] in three key ways: [1] The SEC rule does not rely on lawsuits as an enforcement mechanism, which allows much more certainty in firms' compliance plans. [2] The SEC rule would apply to both retirement and nonretirement accounts, although it would not regulate some kinds of advice that are subject to state regulation, particularly very small investment advisers and certain insurance products, such as single-premium annuities. [3] The SEC rule is much more focused on mitigating conflicts of interest than avoiding them all together."

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