Fiduciary standard may exempt certain business practices, Borzi says

05/2/2013 | WealthManagement.com (U.S.)

The U.S. Labor Department may exempt some types of business practices from its fiduciary standard, said Phyllis Borzi, assistant secretary for the department's Employee Benefits Security Administration. "We have to be able to make a finding that allowing certain kinds of transactions and forms of compensation that would otherwise be prohibited because they have the potential for being conflicted for being self-dealing ... [are] in the best interest of participants and beneficiaries," Borzi said.

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