The Department of Labor’s “Fiduciary Rule,” PTE 2020-02: The FAQs -
This series focuses on the DOL’s new fiduciary “rule”, which was effective on February 16. This, and the next several, articles look at the Frequently...more
7/7/2021
/ Banks ,
Best Interest Standard ,
Broker-Dealer ,
Department of Labor (DOL) ,
Exemptions ,
Fiduciary Rule ,
Financial Institutions ,
Individual Retirement Account (IRA) ,
Insurance Industry ,
Investment Adviser ,
IRA Rollovers ,
Plan Participants ,
Prohibited Transactions ,
Regulation Best Interest
The Department of Labor’s “Fiduciary Rule,” PTE 2020-02: The FAQs -
This series focuses on the DOL’s new fiduciary “rule”, which was effective on February 16. This, and the next several, articles look at the Frequently...more
7/1/2021
/ Best Interest Standard ,
Broker-Dealer ,
Department of Labor (DOL) ,
Employee Retirement Income Security Act (ERISA) ,
Fiduciary Duty ,
Financial Institutions ,
Individual Retirement Account (IRA) ,
Investment Adviser ,
IRA Rollovers ,
Prohibited Transactions ,
PTEs ,
Regulation Best Interest ,
Securities and Exchange Commission (SEC) ,
Standard of Conduct
The Department of Labor’s “Fiduciary Rule,” PTE 2020-02: The FAQs -
This series focuses on the DOL’s new fiduciary “rule”, which was effective on February 16. This, and the next several, articles look at the Frequently...more
6/22/2021
/ Best Interest Standard ,
Broker-Dealer ,
Department of Labor (DOL) ,
Fiduciary Duty ,
Investment Adviser ,
Investment Management ,
Prohibited Transactions ,
PTEs ,
Regulation Best Interest ,
Securities and Exchange Commission (SEC) ,
Standard of Care ,
Standard of Conduct
The Department of Labor’s “Fiduciary Rule,” PTE 2020-02: An Overview -
This article is an overview of the requirements of PTE 2020-02. It discusses the expanded fiduciary definition, the conditions in the PTE, and the...more
6/15/2021
/ Banks ,
Best Interest Standard ,
Broker-Dealer ,
Chief Compliance Officers ,
Department of Labor (DOL) ,
Exemptions ,
Fiduciary Duty ,
Fiduciary Rule ,
Financial Institutions ,
Individual Retirement Account (IRA) ,
Insurance Industry ,
Investment Adviser ,
IRA Rollovers ,
Prohibited Transactions ,
Retirement Plan ,
Securities and Exchange Commission (SEC)
The Department of Labor’s “Fiduciary Rule,” PTE 2020-02: The FAQs -
This series focuses on the DOL’s new fiduciary “rule”, which was effective on February 16. This, and the next several, articles look at the Frequently...more
6/9/2021
/ Best Interest Standard ,
Broker-Dealer ,
Compensation ,
Department of Labor (DOL) ,
Fiduciary Duty ,
Individual Retirement Account (IRA) ,
Investment ,
Investment Adviser ,
Prohibited Transactions ,
PTEs ,
Regulation Best Interest ,
Securities and Exchange Commission (SEC)
The Department of Labor’s “Fiduciary Rule,” PTE 2020-02: The FAQs -
This series focuses on the DOL’s new fiduciary “rule”, which was effective on February 16. This, and the next several, articles look at the Frequently...more
6/1/2021
/ Best Interest Standard ,
Broker-Dealer ,
Compensation ,
Department of Labor (DOL) ,
Fiduciary Duty ,
Financial Institutions ,
Individual Retirement Account (IRA) ,
Investment Adviser ,
Prohibited Transactions ,
PTEs ,
Regulation Best Interest ,
Retirement Plan ,
Securities and Exchange Commission (SEC)
The Department of Labor’s “Fiduciary Rule,” PTE 2020-02 (Part 16): Mitigation Strategies -
This series focuses on the DOL’s new fiduciary “rule”. This post is the 16th in a subseries discussing special compliance issues...more
5/25/2021
/ Best Interest Standard ,
Broker-Dealer ,
Department of Labor (DOL) ,
Fiduciary Duty ,
Financial Institutions ,
Individual Retirement Account (IRA) ,
Investment Adviser ,
Prohibited Transactions ,
PTEs ,
Regulation Best Interest ,
Retirement Plan ,
Securities and Exchange Commission (SEC)
The Department of Labor’s “Fiduciary Rule,” PTE 2020-02 (Part 15): Mitigation Strategies -
This series focuses on the DOL’s new fiduciary “rule”. This post is the 15th in a subseries discussing special or unique compliance...more
5/18/2021
/ Best Interest Standard ,
Broker-Dealer ,
Department of Labor (DOL) ,
Employee Retirement Income Security Act (ERISA) ,
Fiduciary Duty ,
Financial Services Industry ,
Investment Adviser ,
Prohibited Transactions ,
PTEs ,
Regulatory Standards ,
Securities and Exchange Commission (SEC)
The Department of Labor’s “Fiduciary Rule,” PTE 2020-02 (Part 14): The Two Compensation Requirements: Reasonable Compensation and Mitigation-
This series focused on the DOL’s new fiduciary “rule”. This post is the 14th in...more
5/11/2021
/ Best Interest Standard ,
Broker-Dealer ,
Department of Labor (DOL) ,
Fiduciary Duty ,
Financial Institutions ,
Individual Retirement Account (IRA) ,
Investment Adviser ,
Prohibited Transactions ,
Regulation Best Interest ,
Retirement Plan ,
Securities and Exchange Commission (SEC)
The Department of Labor’s “Fiduciary Rule,” PTE 2020-02 (Part 13): The Two Compensation Requirements: Reasonable Compensation and Mitigation-
On February 16, 2021, the DOL’s prohibited transaction exemption (PTE) 2020-02...more
5/4/2021
/ Best Interest Standard ,
Broker-Dealer ,
Department of Labor (DOL) ,
Fiduciary Duty ,
Financial Institutions ,
Individual Retirement Account (IRA) ,
Investment Adviser ,
Prohibited Transactions ,
PTEs ,
Regulation Best Interest ,
Retirement Plan ,
Securities and Exchange Commission (SEC)
The Department of Labor’s “Fiduciary Rule,” PTE 2020-02 (Part 12): The Requirement that Investment Advisers and Broker-Dealers to Receive No More Than Reasonable Compensation -
On February 16, 2021, the DOL’s prohibited...more
4/28/2021
/ Best Interest Standard ,
Broker-Dealer ,
Department of Labor (DOL) ,
Fiduciary Duty ,
Financial Institutions ,
Individual Retirement Account (IRA) ,
Investment Adviser ,
Investment Management ,
Prohibited Transactions ,
PTEs ,
Retirement Plan ,
Securities and Exchange Commission (SEC)
The Department of Labor’s “Fiduciary Rule”, PTE 2020-02 (Part 11): The Requirement that Investment Advisers and Broker-Dealers Mitigate Conflicts -
On February 16, 2021, the DOL’s prohibited transaction exemption (PTE)...more
On February 16, 2021, the DOL’s prohibited transaction exemption (PTE) 2020-02 became effective. The PTE is titled “Improving Investment Advice for Workers & Retirees.” It allows investment advisers, broker-dealers, banks,...more
4/14/2021
/ Broker-Dealer ,
Burden of Proof ,
Business Conduct Standards ,
Compliance ,
Department of Labor (DOL) ,
Employee Retirement Income Security Act (ERISA) ,
Financial Institutions ,
Individual Retirement Account (IRA) ,
Insurance Industry ,
Investment Adviser ,
IRS ,
Retirement Plan ,
Standard of Care
The Department of Labor’s Prohibited Transaction Exemption and Its Impact on Recommendations to Plans, Participants and IRAs (Part 9) -
On February 16, 2021, the DOL’s prohibited transaction exemption (PTE) 2020-02 became...more
4/6/2021
/ Benefit Plan Sponsors ,
Best Interest Standard ,
Broker-Dealer ,
Department of Labor (DOL) ,
Employee Retirement Income Security Act (ERISA) ,
Fiduciary ,
Fiduciary Duty ,
Financial Institutions ,
Five-Part Test ,
Investment Adviser ,
Investors ,
IRS ,
PTEs ,
Retirement Plan ,
Securities and Exchange Commission (SEC)
The Department of Labor’s Prohibited Transaction Exemption and Its Impact on Recommendations to Plans, Participants and IRAs (Part 8) -
On February 16, 2021, the DOL’s prohibited transaction exemption (PTE) 2020-02 became...more
3/30/2021
/ Benefit Plan Sponsors ,
Best Interest Standard ,
Broker-Dealer ,
Department of Labor (DOL) ,
Employee Retirement Income Security Act (ERISA) ,
Fiduciary Duty ,
Financial Institutions ,
Individual Retirement Account (IRA) ,
Investment Adviser ,
Investors ,
Plan Participants ,
Principal Transaction Exemption ,
Retirement Plan ,
Securities and Exchange Commission (SEC)
The Department of Labor’s Prohibited Transaction Exemption and Its Impact on Recommendations to Plans, Participants and IRAs (Part 7) -
On February 16, 2021, the DOL’s prohibited transaction exemption (PTE) 2020-02 became...more
3/23/2021
/ Best Interest Standard ,
Broker-Dealer ,
Department of Labor (DOL) ,
Fiduciary Duty ,
Individual Retirement Account (IRA) ,
Investment Adviser ,
Prohibited Transactions ,
PTEs ,
Regulation Best Interest ,
Retirement Plan ,
Securities and Exchange Commission (SEC)
The Department of Labor (DOL) confirmed on February 12 that the Trump-era Prohibited Transaction Exemption 2020-02 (PTE) would go into effect as scheduled on February 16, 2021. The PTE will likely affect the business of...more
3/23/2021
/ Broker-Dealer ,
Compliance ,
Department of Labor (DOL) ,
Exemptions ,
Fiduciary Duty ,
Investment Adviser ,
IRA Rollovers ,
New Guidance ,
Policies and Procedures ,
Prohibited Transactions ,
PTEs ,
Regulation Best Interest ,
Retirement Plan ,
Securities and Exchange Commission (SEC)
The Department of Labor’s Prohibited Transaction Exemption and Its Impact on Recommendations to Plans, Participants and IRAs (Part 6) -
On February 16, 2021, the DOL’s prohibited transaction exemption (PTE) 2020-02 became...more
3/17/2021
/ 401k ,
Best Interest Standard ,
Broker-Dealer ,
Department of Labor (DOL) ,
Fiduciary Duty ,
Individual Retirement Account (IRA) ,
Investment Adviser ,
Prohibited Transactions ,
Regulation Best Interest ,
Retirement Plan ,
Securities and Exchange Commission (SEC)
On December 18, 2020, the DOL issued its final prohibited transaction exemption (PTE) that permits investment advisers, broker-dealers, banks and insurance companies, and their representatives, to receive conflicted...more
3/10/2021
/ Banks ,
Best Interest Standard ,
Broker-Dealer ,
Department of Labor (DOL) ,
Exemptions ,
Fiduciary Duty ,
Financial Institutions ,
Individual Retirement Account (IRA) ,
Insurance Industry ,
Investment Adviser ,
IRA Rollovers ,
Prohibited Transactions ,
Securities and Exchange Commission (SEC)
On December 18, 2020, the DOL issued its final prohibited transaction exemption (PTE) that will allow conflicted compensation resulting from nondiscretionary fiduciary investment advice. The PTE is titled “Improving...more
The Department of Labor’s Proposed Prohibited Transaction Exemption and Its Impact on Recommendations to Plans, Participants and IRAs (Part 3): Investment Adviser Considerations -
On December 18, 2020, the DOL issued its...more
1/27/2021
/ Best Interest Standard ,
Broker-Dealer ,
Department of Labor (DOL) ,
Employee Benefits ,
Exemptions ,
Fiduciary Duty ,
Financial Institutions ,
Individual Retirement Account (IRA) ,
Investment Adviser ,
IRA Rollovers ,
IRS ,
Plan Participants ,
Prohibited Transactions ,
Regulation BI
The Department of Labor’s Proposed Prohibited Transaction Exemption and its Impact on Recommendations to Plans, Participants and IRAs (Part 2) -
On July 7, 2020, the DOL issued a proposed prohibited transaction exemption...more
The Department of Labor (DOL) and the Securities and Exchange Commission (SEC) are focusing on rollover recommendations and their impact on plan participants. The DOL has historically taken the position that a recommendation...more
11/19/2020
/ Best Interest Standard ,
Broker-Dealer ,
Department of Labor (DOL) ,
Employee Retirement Income Security Act (ERISA) ,
Fiduciary Duty ,
Investment Adviser ,
IRA Rollovers ,
Plan Participants ,
Regulation Best Interest ,
Rollover Equity ,
Securities and Exchange Commission (SEC)
The Department of Labor’s Proposed Prohibited Transaction Exemption and its Impact on Recommendations to Plans, Participants and IRAs (Part 1)
On July 7, 2020 the DOL issued a proposed prohibited transaction exemption...more
Regulation Best Interest: Best Interest and Suitability—How They Differ (Part 5) -
Regulation Best Interest (Reg BI) imposes a “best interest” standard of care on broker-dealers for their recommendations of securities and...more