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Best Interest Standard of Care for Advisors, Part 48
FredReish.com 
[Guidance Overview] May 4, 2021 "On April 13, 2021, the DOL issued [a set of FAQs] about PTE 2020-02 and the expanded definition of fiduciary advice.... [The FAQs provide] a clear signal from the DOL that it will scrutinize quotas, bonuses, prizes and performance standards for the potential of unduly incentivizing investment professionals to put their interests ahead of the interests of retirement investors.... To compound matters, under the prohibited transaction rules, the burden of proving that the condition was satisfied is on the financial institution." |
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