Los Angeles partner Fred Reish authored an article for ThinkAdvisor titled, “Deciphering ‘BICE-Lite’ in the DOL Fiduciary FAQs.” Fred discusses the DOL’s recently released question and answer guide regarding the fiduciary advice regulation, “Conflict of Interest Exemption FAQs,” and its focus on BICE.

Fred notes that these rules will affect virtually all RIA firms and broker-dealers, and that it is a fiduciary duty and the recommendation must be prudently developed.

Read “Deciphering ‘BICE-Lite’ in the DOL Fiduciary FAQs.” (subscription required)

Source: ThinkAdvisor