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Investment Adviser › Internal Revenue Code (IRC) › Financial Services Industry

Carlton Fields

The DOL Fiduciary Rule Is Here – Are You an Investment Advice Fiduciary?

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The Department of Labor’s final definition of “investment advice” fiduciary regulation makes many more individuals fiduciaries under both the Employee Retirement Income Security Act and the Internal Revenue Code. Where for...more

Carlton Fields

DOL Releases New Fiduciary Rule, Broadens Definition of Investment Advice Under ERISA

Carlton Fields on

On April 23, 2024, the Department of Labor published its long-awaited final retirement security rule broadening the definition of who is an “investment advice fiduciary” under section 3(21) of the Employee Retirement Income...more

Seward & Kissel LLP

FinCEN Proposes New Rule to Subject Advisers to AML Requirements

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Who may be interested: Investment Advisers; Closed-End Funds; and Directors of Closed-End Funds - Quick Take: The U.S. Department of Treasury’s Financial Crimes Enforcement Network (FinCEN) recently issued a notice of...more

Goodwin

U.S. Department of Labor Formalizes Reinstatement of “Five Part Test” For Fiduciary Investment Advice and Proposes Broad Principal...

Goodwin on

On June 29, 2020, the U.S. Department of Labor (the Department) formally reinstated its “five-part test” for determining what constitutes “investment advice” under ERISA and Section 4975 of the Internal Revenue Code (the...more

Dechert LLP

Fifth Circuit Opinion Vacates DOL Fiduciary Rule

Dechert LLP on

The U.S. Court of Appeals for the Fifth Circuit on March 15, 2018 issued an opinion (Opinion) vacating the Department of Labor (DOL) fiduciary rule and related applicable exemptions. The DOL had promulgated the rule and...more

Winstead PC

Fifth Circuit Decision Results in Surprising Win for Providers of Financial Services

Winstead PC on

Just as we are tuning in for March Madness, it seems that the Department of Labor (Department) has been dealt the latest upset in the fight to implement its final rule, which regulates certain activities of financial service...more

Dechert LLP

DOL “Investment Advice” FAQs: Considerations for Investment Advisers, Broker-Dealers and Insurance Companies

Dechert LLP on

The U.S. Department of Labor (DOL) issued in April 2016 the final version of its controversial “investment advice” regulation and various related exemptions (collectively, Final Rules), which are widely expected to have a...more

Polsinelli

ERISA Fiduciary Rules: Court Challenges and Considerations for Employers

Polsinelli on

Employers and their financial advisors should consider enacting a multi-step plan amid anticipation that the proposed ERISA Fiduciary Rules turn effective. Last month, several business groups filed a complaint in the...more

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