Broker and consultant disclosures: How much do you make‪?‬ ERISA is a friend of mine

At the end of last year, Congress passed a piece of legislation that addressed, among other things, new broker and consultant disclosure requirements that affect all contracts entered into or renewed Dec. 27, 2021 or after. While some disclosures already happen, the new obligations are focused on getting more detailed information in the hands of plan sponsors and fiduciaries. 
In the latest episode, Ed leaves his beloved podcast baby in the safe (safe?) and loving (loving?) hands of Scott and his honorary cohost Rory Kane Akers. Together, Scott and Rory take transparency to a whole new level as they tackle broker and consultant compensation disclosures. 
What plans are covered by these new requirements?  Who counts as a “consultant” now expected to disclose this compensation information? (HINT: It’s not as clear cut as the broker distinction.)  How do plan sponsors get this information? Do they have to request it? When should they expect the information to be delivered?  How are the DOL and Santa similar? (Yes, you read that right.)  What do brokers and consultants have to disclose? What is the difference between direct and indirect compensation?  What’s the plan sponsor supposed to do with all this information?  Where is Ed by the way? Is he okay? Seriously, if you’ve seen him, let us know.