ERISA imposes stringent conduct standards (and potential liability) on any person who acts as a “fiduciary,” a term that includes a person who renders “investment advice” to an ERISA plan or an IRA. The DOL has issued a...more
In conjunction with its issuance in April 2016 of a new regulation redefining the concept of “investment advice” for purposes of fiduciary status under ERISA and Section 4975 of the Code, the Department of Labor amended a...more
9/28/2016
/ Covered Transactions ,
Department of Labor (DOL) ,
Employee Retirement Income Security Act (ERISA) ,
Exemptions ,
Fiduciary Duty ,
Financial Institutions ,
Financial Services Industry ,
Impartiality ,
Investment Adviser ,
Mutual Funds ,
PTEs
The final rule, while expanding the types of retirement investment advice covered by fiduciary protections, especially for IRAs, also provides carveouts for retirement education, order-taking by brokers and sales pitches to...more