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The new rule allows fiduciaries in retirement plans to be exempt from certain prohibited transactions provided they adhere to a number of 'impartial conduct standards.'
Redfearn, who led the SEC’s Division of Trading and Markets, which was responsible for ensuring firms remain in compliance with Reg BI, will leave the agency by year’s end.
Speaking at the Consumer Federation of America's Financial Services Conference, the commissioner also said more Reg BI data is needed to gauge its effectiveness, but a strong fiduciary standard was critical.
Stephanie Avakian has served as the head of the division for four years, and oversaw investigations into Wells Fargo's supervision of investment advisors as well as the Share Class Selection Disclosure Initiative.
By design and her choice, Blair duQuesnay doesn’t actively prospect for business and instead focuses on the client relationships and the investment committee work she enjoys most.