Groom's summary of the Department of Labor's ("DOL") final fiduciary rule was highlighted in the Insurance NewsNet article, "Annuities Selling Strong, but For How Long?"
Insurance NewsNet recapped the portion of the publication that read, "DOL has recognized that a variety of sales activity does not give rise to fiduciary status...This opens up a range of possibilities for interactions amongst sophisticated parties to remain non-fiduciary in nature in a way that may not have been possible under the Proposal."
The platform also summarized the portion of the publication that read, "The final amendment allows both cash and noncash compensation from any and all sources, subject to compliance with the exemption's Impartial Conduct Standards and other applicable conditions."
To read the article, click here.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.