WASHINGTON -- When the Department of Labor produces its controversial proposal to extend fiduciary responsibilities to certain advisors to retirement plans later this year, the plan will come with a robust economic analysis making the case for new regulations, along with targeted exemptions to the rules, the senior official who is leading the effort said on Tuesday.
Phyllis Borzi, the Labor Department's assistant secretary for the Employee Benefits Security Administration, would not say precisely when the department plans to release its proposal, though she suggested that it might be forthcoming in "a couple months."
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