The U.S. Labor Department on Thursday released its widely anticipated frequently-asked-questions guidance on its fiduciary rule, answering 34 questions posed on new exemptions and amendments to existing exemptions.
Phyllis Borzi, assistant secretary of Labor for DOL’s Employee Benefits Security Administration, said Tuesday that the release of the first “wave” of FAQs was imminent and that EBSA anticipates releasing the FAQs in “three waves.” She noted that there could likely be “multiple waves” of FAQs.
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