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DoL to Restrict Certain Products in IRAs
Financial services firms are awaiting a list of products that the Department of Labor may restrict from being used in IRAs as part of its fiduciary standard rule. So reports Financial Advisor.
In the latest proposal, banned products include direct-participation programs, private securities, options, futures, and over-the counter stocks, while variable annuities made the list of products that can be used unless compensation for advisors pitching the products is considered excessive.
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