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|DOL Advice Rule Compliance Will Be 'Heavy Lift'|
Feb. 19, 2021
"The DOL rule took effect Tuesday, but the department and the [IRS] are both deferring compliance with the new rules until Dec. 20 as long as the 'impartial conduct standards' are met.... [F]irms will need to figure out ways of measuring the reasonable compensation, ... and the ways to mitigate compensation if a conflict exists. It's going to be 'a heavy lift' to get those policies and procedures in place by Dec. 20[.]"
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