The U.S. Department of Labor's revamped fiduciary standard will include transactions involving IRA accounts but won't be ready by October, as had been anticipated.
Phyllis Borzi, assistant secretary of Labor for the Employee Benefits Security Administration, said Tuesday that while EBSA has been “making progress” on its reproposal to amend the definition of fiduciary under ERISA, release of the revised plan won’t come in October “because we are not finished.”
Originally published on ThinkAdvisor. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.