Erin Sweeney Quoted Regarding Acceptable Pay Arrangements Outlined in DOL Final Fiduciary Rule in SHRM

"DOL's Fiduciary Rule Garners Support, Draws Concern"
SHRM
04.11.16Erin Sweeney was quoted regarding acceptable pay arrangements for financial advisers as covered by the U.S. Department of Labor's (DOL's) recently released final fiduciary rule. The regulation includes a best interest contract (BIC) exemption to allow so-called conflicted compensation to be paid under certain conditions. Some experts feel that while revenue-sharing fees are not banned outright, advisers will be bound by the fiduciary standard and the new requirements to disclose these arrangements as well as the possible conflicts of interest they may present. "The DOL is still casting a wide net, indicating they think these types of common arrangements may well fall within the prohibitions," Sweeney said.
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