DOL Fiduciary Hearings II: BIC on the Hot Seat
August 14, 2015 by John Hilton
Department of Labor officials found some areas of agreement with financial execs this afternoon on its controversial “best interest contract exemption,” known as BIC.
In place of the BIC, Charles Nelson, CEO of retirement for Voya Financial, proposed a one-page “Customer’s Bill of Rights.” It would include any disclosures, compensation terms, and encourage investors to shop around, Nelson said. Click HERE for article
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Originally Posted at InsuranceNewsNet on August 11 ,2015 by John Hilton.
Categories: Industry Articles