Overview The U.S. Department of Labor (the “DOL”) on December 15, 2020 issued a release (the “Release”) finalizing Prohibited Transaction Class Exemption (“PTCE”) 2020-2 (the “Final Exemption”) for retirement accounts...more
1/20/2021
/ Best Interest Standard ,
Biden Administration ,
Conflicts of Interest ,
Department of Labor (DOL) ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Fiduciary Duty ,
Fiduciary Rule ,
Investment Adviser ,
Investment Management ,
Regulation BI ,
Regulatory Reform ,
Retirement Plan ,
Rollover Equity
Last week, the U.S. Department of Labor (the “DOL”) on December 15, 2020 issued a release (the “Release”) finalizing an important new initiative for retirement accounts (“Plans”) that are subject to the Employee Retirement...more
The U.S. Department of Labor’s amended “investment advice” fiduciary rule need no longer ask for whom the bell tolls. It tolls for thee. So - ding dong, the rule is dead....more
Fiduciary rule, we hardly knew ya. The death knell for the DOL’s amended rule appears to be sounding this week with the expected mandate from the Fifth Circuit effectuating the vacatur of the amended rule in the case of...more
5/9/2018
/ Amended Rules ,
Best Interest Contract Exemptions ,
Broker-Dealer ,
Chamber of Commerce ,
Collateralized Loan Obligations ,
Department of Labor (DOL) ,
Employee Retirement Income Security Act (ERISA) ,
Fiduciary Rule ,
Investment Adviser ,
Retirement Plan ,
Risk Retention ,
Securities and Exchange Commission (SEC) ,
Vacated
It has been a long and winding road for the amended fiduciary regulation (the "Regulation") and the related new and amended exemptions (collectively, the "Rule") of the U.S. Department of Labor (the "DOL") under the Employee...more
3/26/2018
/ Appeals ,
Arbitrary and Capricious ,
Best Interest Contract Exemptions ,
Broker-Dealer ,
Department of Labor (DOL) ,
Employee Retirement Income Security Act (ERISA) ,
Fiduciary Rule ,
Investment Adviser ,
Lack of Authority ,
Retirement Funds ,
Secretary of Labor ,
Securities and Exchange Commission (SEC) ,
Trump Administration ,
Vacated
The U.S. Department of Labor (the “DOL”) today (August 9, 2017) submitted a Notice of Administrative Action in the Thrivent v. Acosta litigation (D. Minn.). The Notice relates to the final regulation that defines who is a...more
The U.S. Department of Labor (the “DOL”) published in the Federal Register on July 6, 2017 a Request for Information (the “RFI”) regarding the final regulation defining who is a “fiduciary” of an employee benefit plan as a...more
7/8/2017
/ Best Interest Contract Exemptions ,
Department of Labor (DOL) ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Fiduciary Duty ,
Fiduciary Rule ,
Investment Adviser ,
IRS ,
Mutual Funds ,
Presidential Memorandum ,
Prohibited Transactions ,
Public Comment ,
Request For Information ,
Rollbacks ,
Securities and Exchange Commission (SEC) ,
Trump Administration
It has been a long and winding road for the amended fiduciary regulation (the "Regulation") of the U.S. Department of Labor (the "DOL") under the Employee Retirement Income Security Act of 1974 ("ERISA"). The highly...more
5/30/2017
/ Best Interest Contract Exemptions ,
Broker-Dealer ,
Delays ,
Department of Labor (DOL) ,
Employee Retirement Income Security Act (ERISA) ,
Enforcement ,
Exemptions ,
Fiduciary Rule ,
Field Assistance Bulletins ,
Final Rules ,
Individual Retirement Account (IRA) ,
Investment Adviser ,
Obama Administration ,
Prohibited Transactions ,
Retirement Plan ,
Secretary of Labor ,
Trump Administration
The U.S. Department of Labor (the “DOL”) released its first set of FAQs (the “FAQs”) regarding the DOL’s recently finalized “investment advice” regulation and various related exemptions (collectively, the “Final Rules”) on...more
11/8/2016
/ Best Interest Contract Exemptions ,
Compensation Agreements ,
Department of Labor (DOL) ,
Disclosure Requirements ,
Employee Retirement Income Security Act (ERISA) ,
Exceptions ,
Fiduciary Duty ,
Fiduciary Rule ,
Final Rules ,
Insurance Industry ,
Internal Revenue Code (IRC) ,
Investment Adviser ,
Prohibited Transactions
The U.S. Department of Labor (the “DOL”) on April 6, 2016 released the final version of its “investment advice” regulation and accompanying prohibited transaction exemptions, a highly-anticipated milestone that is the...more
5/27/2016
/ Benefit Plan Sponsors ,
Best Interest Contract Exemptions ,
Brokers ,
Conflicts of Interest ,
Department of Labor (DOL) ,
Employee Retirement Income Security Act (ERISA) ,
Fiduciary Duty ,
Final Rules ,
Individual Retirement Account (IRA) ,
Investment Adviser ,
Retirement Plan
For the past several years, the U.S. Department of Labor (the “DOL”) has been in the process of revising the “investment advice” regulations that govern “fiduciary” status under the Employee Retirement Income Security Act of...more