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Proposed Rules Employee Retirement Income Security Act (ERISA) Investment Adviser

Eversheds Sutherland (US) LLP

Dual registrant regulatory roundup - May 2024

Welcome to the Regulatory Roundup. Each month, Eversheds Sutherland Investment Services attorneys review significant regulatory developments (including notable rulemakings and guidance from securities regulators) from the...more

Seyfarth Shaw LLP

Third Time’s a Charm or Three Strikes You’re Out? The Department of Labor Finalizes its Third Revised Investment Advice Fiduciary...

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On April 23, 2024, the DOL finalized its 2023 proposed package of amendments to the regulations defining who is a fiduciary under ERISA by virtue of providing investment advice for a fee, and amendments to seven existing...more

Carlton Fields

New DOL Fiduciary Rule Proposal: Still the Same Old Act…

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On November 3, 2023, the Department of Labor proposed yet another fiduciary rule, the latest in more than a decade of DOL efforts to ensure that every financial professional who sells an investment product to a retirement...more

Proskauer Rose LLP

A Guide to the DOL’s New Investment Advice Fiduciary Rule Proposal – What Investment Advisers and Managers Need to Know

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The new “retirement security rule” package, issued by the U.S. Department of Labor (the “DOL”) on October 31, 2023, is the latest chapter in an almost 15-year effort by the DOL to amend the five-part test in its 1975...more

Cadwalader, Wickersham & Taft LLP

DOL Issues New Proposed Fiduciary Rule

On Tuesday, October 31, 2023, the U.S. Department of Labor (the "DOL") issued a new proposed rule pertaining to the definition of “fiduciary” under ERISA and Section 4975 of the Code. If adopted, the proposed rule would...more

Troutman Pepper

DOL Proposed Rule: New Definition of "Investment Advice Fiduciary"

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On October 31, the Department of Labor (DOL) released a proposed rule (the Proposed Rule) aiming to redefine and expand who qualifies as an “investment advice fiduciary” under the Employee Retirement Income Security Act of...more

Seyfarth Shaw LLP

You Can Call the DOL’s New Investment Fiduciary Rule by Another Name (“Retirement Security” Rule), but it’s Still the “Fiduciary...

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On October 31, 2023, the Department of Labor (“DOL”) issued its latest attempt at revising the rules regarding when investment professionals who provide “investment advice” to employee benefit plans or plan participants are a...more

A&O Shearman

U.S. Department of Labor proposes new fiduciary rule, again

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On October 31, 2023, the U.S. Department of Labor (“DOL”)'s Employee Benefits Security Administration (“EBSA”) proposed a new fiduciary rule (the “Proposal”). If finalized, the Proposal would (1) expand the definition of...more

Dechert LLP

ERISA Déjà-Boo? New Halloween Fiduciary Proposal May Be a Real Scream

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The Department of Labor (“DOL”) on October 31, 2023—Halloween—issued a release (the “Release”) proposing to make changes to the 1975 rule (the “1975 Rule”) defining when institutions and individuals are providing fiduciary...more

Blank Rome LLP

Regulatory Update and Recent SEC Actions - January 2023

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REGULATORY UPDATES - Recent SEC Leadership Changes - The Securities and Exchange Commission (the “SEC”) announced that Megan Barbero, currently SEC Principal Deputy General Counsel, will be appointed General Counsel,...more

Goodwin

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

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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

Tucker Arensberg, P.C.

DOL Proposes New Rule for Investment Advisors Providing ERISA Fiduciary Advice

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On June 29, the DOL proposed a new class exemption from the prohibited transaction rules for investment advice fiduciaries. If certain conditions are met, an investment advisor may receive reasonable compensation for...more

Dechert LLP

What Did the DOL Just “Rollover” (and Roll Out)? – “A Primary Basis” for Understanding the New Proposed ERISA Exemption and...

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The U.S. Department of Labor (the “DOL”) on June 29, 2020 issued a release (the “Release”) proposing an important new initiative for retirement accounts (“Plans”) that are subject to the Employee Retirement Income Security...more

Bowditch & Dewey

DOL Proposes New Rules for Selecting Retirement Plan Investments

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If you are a member of the committee for your employer’s pension, 401(k), profit-sharing, or 403(b) plan, you should check out a set of proposed rules for selecting investments. If you have an outside investment advisor, as...more

Groom Law Group, Chartered

DOL Proposes a New Fiduciary Investment Advice Exemption

On June 29, the U.S. Department of Labor (“DOL”) proposed a new exemption from the prohibited transaction provisions of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”) in connection with the...more

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