The Department of Labor's controversial proposal for extending fiduciary responsibilities to brokers working with retirement plans will likely include significant exemptions permitting common business practices such as commissions and revenue sharing, according to people familiar with the drafting of the rules.
The DoL's proposal, intended to crack down on conflicts of interest in the retirement sector, is being sent to the White House's Office of Management and Budget for review -- the next step before it would be released to the public -- on Monday, according to published reports.
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