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Articles tagged "Phyllis Borzi"


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Fred Reish: You need the data in your file.

DOL fiduciary rule's upcoming September surprise'll send brokers memo-izing -- or else -- says Fred Reish in Nashville to a spellbound room

The Drinker Biddle attorney's invariably even tone gained inflection as he spoke of how brokers can only invoke BICE exemptions to go off DOL script by zealous, proactive documentation

May 25, 2017 at 7:53 PM

Phyllis Borzi: Invesco Trust stepped up to the plate.

DOL glows and Invesco glowers over $10 million settlement of alleged ERISA infraction

Labor Department's Phyllis Borzi praises Invesco Trust Company for 'stepping up' but the Atlanta fund company says it did nothing wrong and was merely extracting itself from DOL overreach

May 3, 2016 at 7:34 PM

Duane Thompson: Its harshest critics might compare the process to a giant anaconda that, having swallowed its prey, now lies motionless for several months as it slowly digests its meal.

Snakes and ladders: What to expect in the unexpectedly triumphant final DOL fiduciary rule

Whether converted or just plain exhausted, the staunchest opponents are standing down to make way for the new rule that will go into effect in 2017

December 18, 2015 at 12:28 AM

Lou Harvey: It does mean that annuity sales will no longer be a 'caveat emptor' type of transaction.

'Paradigm shift' in 401(k) flows opens the DOL door for annuities in 401(k) plans and RIAs are split

In the wake of DOL and Treasury rulings, some fiduciaries, certainly not all, seem willing to give the oft-reviled instruments a chance

October 28, 2014 at 6:27 PM

Phyllis Borzi: We're troubled by this and employers are having a hard time finding the documents they're looking for.

Phyllis Borzi tightens the noose on 401(k) providers that flout DOL disclosure, not without critics

The idea is to have a de facto big red arrow pointing to key disclosures on revenue sharing but it'll add to the verbiage surplus

March 11, 2014 at 9:04 PM

Ron Rhoades: There was a time when the SEC was respected. No more.

How the SEC has pulled a vanishing act, looking the other way while brokers with flimsy pretenses hold themselves out as trusted advisors

The federal keeper of the standards has stopped battling brokers from calling themselves 'wealth managers', advertising 'trust' or looking the other way on principal trades

December 17, 2013 at 8:05 PM

Phyllis Borzi: We thought we hadn't done enough.

Borzi: Exemptions from conflict of interest will be part of new fiduciary proposal

An easing of the ban against advisors accepting payment from money managers for selling their products may be in the works

May 7, 2013 at 3:14 AM

Phyllis Borzi is poised to continue her mission of protecting 401(k) investors in 2013: "The laws need to keep up."

10 most influential individuals in the 401(k) industry affecting RIAs in 2012, Part 2

Executives and lawmakers are leading the charge on a fast-shifting landscape as retirement funds gain increasing importance to an aging US population

January 4, 2013 at 5:10 AM

 Phil Chiricotti: It's a needless requirement that just can't be met.

New DOL rule effectively kills off open-architecture option favored by some big plan participants -- and sets off the 401(k) industry

The wrinkle aimed at self-directed accounts is seen as an unnecessary eleventh hour blindsiding by Fidelity, TD and the CFDD among a broad constituency

June 20, 2012 at 5:44 AM

Lou Harvey: The rules on the participant side are a joke.

After years of DOL bluster, new 401(k) rules appear to make RIAs' low expenses look higher than those of brokers

It's the same old problem of mutual fund-paid fees arriving by tunnel and therefore getting a pass in disclosures; DOL no-comments the issue

June 18, 2012 at 3:28 AM

Matthew Hutcheson testified in Congress about 401(k) plans and now the DOL is breathing down his neck.
May 10, 2012 at 5:09 AM

Phyllis Borzi: It’s quite common for an entity to be subject to multiple legal regimes.  ... It’s just the way things are.

A Q&A with Phyllis Borzi, the DoL powerbroker aiming to remake the retirement market

Borzi says she is pushing through Bush administration initiatives; her expansion of the fiduciary standard is drawing ire

March 8, 2011 at 3:24 PM

Larry Goldbrum: (DOL's proposed rules) will have a significant chilling and negative effect on the retirement plan community.

DOL's proposal puts the screws to legacy 401(k) providers

As SPARK, SIFMA, others cry foul at yesterday's hearing, RIAs may be sitting pretty with the right fiduciary framework in place

March 2, 2011 at 2:31 PM

Phyllis Borzi: If it gets rid of schlocky advice, that’s okay with me.

Proposed DOL regs expose more advisors to fiduciary liability

Language of rules amounts to better ammo for lawyers

October 22, 2010 at 6:17 AM

If Congress passes financial reform, it only sets the stage for a new host of FINRA, SEC and DOL issues
May 14, 2010 at 5:38 AM

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