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Commission adds new item to agenda: Interpretation of broker guidance that qualifies as advice
The measure allows small employers to band together to offer plans and raises the RMD age. Another provision eases use of annuities in 401(k)s, which critics say goes too far
Here are the independent broker-dealers that brought in the most annuity revenue last year.
The regulation, expected in December, likely will be contoured to the SEC's new advice standards.
The largest IBD in the country has agreed to buy a small broker-dealer in Florida to kick off the new effort.