Assistant Secretary of Labor Phyllis C. Borzi to discuss proposed regulation amending definition of ‘fiduciary’

WASHINGTON – Phyllis C. Borzi, assistant secretary of the U.S. Department of Labor’s Employee Benefits Security Administration, will hold an Oct. 21 conference call with members of the media to discuss a proposed rule to amend the regulatory definition of the term “fiduciary” under section 3(21) of the Employee Retirement Income Security Act. The proposed amendment would better reflect the current practices of investment advisers and the expectations of plan officials and participants who receive investment advice.

Who: Assistant Secretary of Labor for EBSA Phyllis C. Borzi

What: Proposed rule on the regulatory definition of the term “fiduciary”

When: Thursday, Oct. 21, 1:30 p.m. EDT

Where: Telephone conference call

Note: Media representatives who intend to cover this event should contact Gloria Della at 202-693-8666 or Della.Gloria@dol.gov, or Dave Roberts at 202-693-5945 or Roberts.David@dol.gov for dial-in instructions. 

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