Fiduciary rule is among FSI's top priorities

In the development of its proposed fiduciary rule, the Department of Labor makes the incorrect assumption that paying a commission automatically creates a conflict of interest, says David Bellaire, executive vice president and general counsel of the Financial Services Institute. FSI will work with the DOL to help it correctly understand the commission model, he said. Other issues of major concern for FSI include the implementation of other regulatory reforms and protecting the status of independent-contractor representatives and advisers.

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