Regulators are soon expected to unveil a new fiduciary standard that will dramatically change how financial professionals do business.

Broker-dealers and those who work with Individual Retirement Accounts would be held to the same fiduciary standards as their 401(k) plan brethren, which would overturn 40 years of business practices that allowed these individuals to recommend investments in which they receive a commission.

Because a stricter fiduciary standard will doubtlessly increase compliance costs, all agree that it's critical that advisors know the rules of the game. 

Amid all of the teeth-gnashing, here's a look at eight questions that are central to the debate:

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