The Department of Labor has issued back-to-back guidance, in the form of frequently asked questions, for advisors as well as for investors and workers regarding its fiduciary rule, which takes effect on April 10.
On Friday, DOL released a 17-page FAQ that included 35 questions and answers related mainly to advisors, covering the various provisions of the rule that "draw lines between fiduciary and non-fiduciary communications," the FAQ states.
At the same time was the release of a 16-page FAQ, which includes 30 questions and answers that Phyllis Borzi, assistant secretary of Labor for the Employee Benefits Security Administration, said are meant to answer questions "especially for workers and retirement investors."
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