Phyllis Borzi

Type: Person
Name: Phyllis Borzi
First reported Apr 09 2014 - Updated Apr 10 2014 - 2 reports

Will Fiduciary Rule Lead to Billions in Retirement Cash-Outs?

WASHINGTON – If the Department of Labor moves ahead with its proposal to impose a fiduciary responsibility on financial professionals offering retirement advice, waves of broker-dealers and company call centers would exit that market and further jeopardize ... [Published Financial-Planning Interactive - Apr 10 2014]
First reported Apr 03 2014 - Updated Apr 03 2014 - 1 reports

Borzi: People Are Afraid To Invest To The Point Of 'Paralyzation'

Assistant Secretary of Labor Phyllis Borzi told a retirement conference Wednesday that people are afraid to invest to the point of “paralyzation.”“People feel inadequate. It’s too complicated. They don’t understand basic concepts,” she said at a forum ... [Published Financial Advisor Magazine - Apr 03 2014]
Entities: Phyllis Borzi, Labor, ERISA
First reported Mar 31 2014 - Updated Mar 31 2014 - 1 reports

White, Borzi and Legislators Focus on Fiduciary

This copy is for your personal, non-commercial use only. To order presentation-ready copies for distribution to your colleagues, clients or customers, click the "Reprints" link at the bottom of any article.From the April 2014 issue of Investment Advisor ... [Published AdvisorOne - Mar 31 2014]
First reported Mar 28 2014 - Updated Mar 28 2014 - 1 reports

After open enrollment ends, fed official says Obamacare focus will shift to small businesses

3/28/2014MILWAUKEE -- A top federal official said that after the current open enrollment push ends, the administration's next step in implementing the Affordable Care Act will be reaching out to small employers to help them set up health coverage for ... [Published Wis Business.com - Mar 28 2014]
First reported Mar 23 2014 - Updated Mar 23 2014 - 1 reports

DOL and SEC: Don't be intimidated

Roger SchillerstromIt's a good thing investors aren't holding their breath waiting for the Labor Department and the Securities and Exchange Commission to produce uniform fiduciary standards governing brokers and investment advisers.If they were, they ... [Published Investment News - Mar 23 2014]
First reported Mar 21 2014 - Updated Mar 21 2014 - 1 reports

DOL hopes proposed fee disclose rules will be useful roadmap in difficult terrain

Perhaps after reading too many voluminous, jargon-filled fee disclosure agreements, the Department of Labor became fed up and decided to take action. Last week, the DOL issued a proposed rule that would amend its final service provider fee disclosure ... [Published BenefitNews.com - Mar 21 2014]
First reported Mar 19 2014 - Updated Mar 19 2014 - 1 reports

U.K. ban on commissions pushes investors to self-directed accounts

A ban on financial advisers' charging commissions in the United Kingdom has driven investors with small accounts out of the advice market, according to a mutual fund official in Europe.At the beginning of 2013, the country implemented the investment advice ... [Published Investment News - Mar 19 2014]
First reported Mar 18 2014 - Updated Mar 18 2014 - 1 reports

Nicklaus: 401(k) fees are still hard to spot

In theory, disclosing more information about fees was supposed to make 401(k) plans better.Two years after it imposed sweeping new disclosure rules, though, the Labor Department isn’t sure whether they’re working. Disclosure is helpful only if it is read ... [Published STLtoday.com - Mar 18 2014]
First reported Mar 14 2014 - Updated Mar 14 2014 - 1 reports

Borzi counters criticism calmly at congressional hearing

DOL Assistant Secretary Phyllis BorziWhen she walks into a room, it is sometimes necessary to stand up to see Assistant Labor Secretary Phyllis Borzi.But the regulator knows how to stand tall when facing financial industry opponents.Ms. Borzi’s willingness ... [Published Investment News - Mar 14 2014]
First reported Mar 12 2014 - Updated Mar 13 2014 - 2 reports

SEC’s Gallagher: Fiduciary rule likely not coming

While Phyllis Borzi was adamant Wednesday that the Department of Labor will release a fiduciary reproposal, as the redraft is DOL’s “No. 1 priority,” Securities and Exchange Commissioner Daniel Gallagher was just as adamant that the commission lacks the ... [Published LifeHealthPro - Mar 13 2014]
First reported Mar 12 2014 - Updated Mar 12 2014 - 3 reports

U.S. Labor Department offers glimpse into new fiduciary plan

WASHINGTON (Reuters) - A U.S. Department of Labor official on Wednesday offered a sneak peak into a controversial plan to tighten regulation of retirement financial advisers, saying it will both minimize conflicts and still permit brokers to earn a l ... [Published Morning Call - Mar 12 2014]
First reported Mar 11 2014 - Updated Mar 12 2014 - 6 reports

Phyllis Borzi tightens the noose on 401(k) providers that flout DOL disclosure but is the solution worse than the cure?

Brooke’s Note: When my accountant hands me tax return documents there are a handful of yellow stickers in the shape of pointers showing what I need to read and sign. My lawyer does the same. Without these guideposts, I’d be lost. Phyllis Borzi is now ... [Published RIABiz - Mar 12 2014]

Quotes

...talk at Marquette University, Borzi said employee benefits regulations have always been complex and that even for well-intentioned companies, "it's hard to know how to do the right thing."
"whatever business model you want to use is perfectly fine with us, as long as it is not a business model that is entirely based on conflicts of interest" said Phyllis Borzi, the assistant secretary of the Employee Benefits Security Administration, in remarks at an event held by the Financial Services...

More Content

All (33) | News (33) | Reports (0) | Blogs (0) | Audio/Video (0) | Fact Sheets (0) | Press Releases (0)
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Will Fiduciary Rule Lead to Billions in Retirem... [Published Financial-Planning Interactive - Apr 10 2014]
DOL Fiduciary Plan Could Hurt Workers Changing ... [Published AdvisorOne - Apr 09 2014]
Borzi: People Are Afraid To Invest To The Point... [Published Financial Advisor Magazine - Apr 03 2014]
Labor Department Cracks Down on Employer 401(k)... [Published Treasury & Risk Management - Apr 01 2014]
White, Borzi and Legislators Focus on Fiduciary [Published AdvisorOne - Mar 31 2014]
After open enrollment ends, fed official says O... [Published Wis Business.com - Mar 28 2014]
DOL wants to simplify 401(k) fee disclosures fo... [Published BenefitNews.com - Mar 27 2014]
DOL and SEC: Don't be intimidated [Published Investment News - Mar 23 2014]
Why I use target date funds for some 401(k) cli... [Published RIABiz - Mar 21 2014]
DOL hopes proposed fee disclose rules will be u... [Published BenefitNews.com - Mar 21 2014]
U.K. ban on commissions pushes investors to sel... [Published Investment News - Mar 19 2014]
Nicklaus: 401(k) fees are still hard to spot [Published STLtoday.com - Mar 18 2014]
U.S. seeks more disclosures about 401k plan fees [Published Durango Herald - Mar 16 2014]
Borzi counters criticism calmly at congressiona... [Published Investment News - Mar 14 2014]
Some U.S. advisors in for tougher rules [Published Advisor.ca - Mar 14 2014]
Small retirement plan fiduciaries drowning in n... [Published Investment News - Mar 13 2014]
SEC’s Gallagher: Fiduciary rule likely not coming [Published LifeHealthPro - Mar 13 2014]
U.S. Labor Department offers glimpse into new f... [Published Morning Call - Mar 12 2014]
UPDATE 2-U.S. Labor Department offers glimpse i... [Published CNBC - Mar 12 2014]
Educating or Advising? Tough Question in Fiduci... [Published Financial-Planning Interactive - Mar 12 2014]
EBSA seeking comments on fee disclosure clarity [Published Benefits Pro - Mar 12 2014]
U.S. Labor Department to release financial advi... [Published Bayou Buzz - Mar 12 2014]
UPDATE 1-U.S. Labor Department to release finan... [Published CNBC - Mar 12 2014]
Phyllis Borzi tightens the noose on 401(k) prov... [Published RIABiz - Mar 12 2014]
Labor Department wants more 401(k) plan fee dis... [Published Crains ChicagoBusiness - Mar 11 2014]
Labor Dept. wants more 401(k) plan fee disclosures [Published Greenfield Daily Reporter - Mar 11 2014]
Labor Dept. wants more 401(k) plan fee disclosures [Published Modesto Bee - Mar 11 2014]
DOL Proposes Service Provider Fee Guides [Published Plan Adviser - Mar 11 2014]
DOL asks for comments on 401(k) fee disclosure ... [Published BenefitNews.com - Mar 11 2014]
U.S. Labor Department wants to mandate guide to... [Published CNBC - Mar 11 2014]
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