Filed Under:Annuities, Variable

Borzi: DOL to offer new version of fiduciary rule in "several months"

‘When people see the reproposal, reasonable people with open minds will say [DOL] listened,’ Borzi said.

Phyllis Borzi of the Department of Labor at a Senate hearing last year. (Photo: AP)
Phyllis Borzi of the Department of Labor at a Senate hearing last year. (Photo: AP)

The Department of Labor plans to repropose its controversial rule to amend the definition of fiduciary under ERISA “in several months,” Phyllis Borzi, assistant secretary for the DOL’s Employee Benefits Security Administration, told AdvisorOne on Friday.

Speaking briefly with AdvisorOne before she spoke at the Women’s Institute for a Secure Retirement’s annual women’s retirement symposium in Washington, Borzi said to expect a reproposal of the fiduciary rule early next year.

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Nichole Morford

Nichole Morford
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