7 Things to Know About the New DOL Annuity Sales Standard Proposal
July 1, 2020 by Allison Bell
The Employee Benefits Security Administration (EBSA) has unveiled a new sales standard proposal that could affect investment advice fiduciaries that help retirement savers roll cash from retirement plans into individual retirement accounts (IRAs).
EBSA is an arm of the U.S. Department of Labor (DOL), and the new draft is likely to set off a new wave of battles over who should regulate annuity sellers, and how.
DOL Secretary Eugene Scalia said in a comment in the proposal release announcement that the EBSA approach would give individuals the information they need to make good decisions.
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