Protection of Critical Infrastructure via LIPA and ICTS
Compliance Perspectives: Sanctions, Data and Vetting Third Parties
ITAR for Facility Security Officers
Podcast - Credit Funds: How Managers Can Avoid and Mitigate ERISA Conflicts
The DOL has not appealed the decision in the Florida Federal District Court that vacated its fiduciary “re-interpretation.” That re-interpretation, in effect, said that ongoing investment advice to a rollover IRA could be...more
On December 18, 2020, the U.S. Department of Labor (the “DOL”) published in the Federal Register a final prohibited transaction class exemption (the “Exemption”) that allows “investment advice” fiduciaries to provide advice...more
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
On June 29, 2020, the Department of Labor (DOL) proposed a series of regulatory actions regarding the definition of “investment advice” under ERISA section 3(21). The proposed actions result from the Fifth Circuit’s decision...more
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
The nationwide vacatur of the Department of Labor “investment advice” fiduciary definition and related exemptions by the US Court of Appeals for the Fifth Circuit on March 15, 2018, does not bring an end to the challenges...more
We now have a split in the circuits. Last week, a panel of the U.S. Court of Appeals for the Fifth Circuit vacated in its entirety the U.S. Department of Labor's Fiduciary Rule, only two days after the Tenth Circuit had...more
The Tenth Circuit recently affirmed the Department of Labor’s authority to impose new conditions for exemption from prohibited transaction rules with respect to the sale of annuity contracts. The case related to the...more
In 2017, the principal focus in the administration of the Employee Retirement Income Security Act of 1974, as amended (ERISA), by the Department of Labor (DOL) appropriately remained one of the extraordinary developments...more
The Department of Labor (DOL) on Nov. 29 finalized additional delays to major aspects of its fiduciary rule by formally extending, by 18 months, certain transition period deadlines and applicability dates. Consequently, in...more
Last month, we wrote about potential litigation issues under the “revised temporary” DOL Rule involving the offer and sale of annuities in the IRA market. This paper continues that discussion. I emphasize to the reader that...more
The Department of Labor (DOL) has proposed an extension of the transition period of its Fiduciary Rule from January 1, 2018 to July 1, 2019. At the same time, the DOL signaled that significant changes will be made to the...more
On Thursday, August 31, 2017, the Department of Labor (DOL) published its proposal to extend the “Transition Period” for the Best Interest Contract (BIC) Exemption and Principal Transaction Exemption from its currently...more
In order for fiduciaries to receive compensation that varies based on their investment advice (e.g., commissions) or from third parties in connection with their advice (e.g., revenue sharing), they must comply with a...more
On August 30, 2017, the Department of Labor (“DOL”) officially proposed delaying the applicability date of exemptions to its fiduciary rule until July 1, 2019. The proposal was expected after DOL stated in a court filing...more
On August 9, 2017, the Department of Labor notified the District Court of Minnesota that it had submitted to the Office of Management and Budget amendments that would delay until July 1, 2019 the applicability of three...more
Previously, I wrote about potential litigation under the Department of Labor’s then proposed fiduciary rule (see Expect Focus, Vol. II, 2015). I predicted the following as to sales of index annuities to IRAs if the rule was...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
Last week, the Department of Labor (DOL) issued a request for information (RFI) in the form of 18 questions regarding its fiduciary rule and related prohibited transaction exemptions (PTEs). The RFI was issued approximately...more
The first phase of the Department of Labor’s (“DOL”) new fiduciary rule (“Fiduciary Rule”) was implemented on June 9, 2017. The Fiduciary Rule greatly expands the categories of persons who are deemed fiduciaries when dealing...more
The DOL's "fiduciary advice rule" (the "Rule") will take effect on June 9, 2017. The DOL has published FAQs on the implementation of the Rule applicable to the period between June 9th and December 31st (the "Transition...more
This is an update on the upcoming effective date of the "fiduciary rule" or "fiduciary advice rule" (the "Rule") that was issued under the US Employee Retirement Income Security Act of 1974 (ERISA). The Rule was published by...more
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
The U.S. Department of Labor (DOL) published a final rule on April 7, 2017 (Final Extension),1 delaying for 60 days the applicability date of the new rule defining who is a fiduciary under ERISA (Fiduciary Rule)2 and related...more