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Retirement Plan The United States Department of Labor

Temporary Guidance for Fiduciary Rule Compliance

by Tonkon Torp LLP on

On Friday, March 10, 2017, the Department of Labor (DOL) issued a field assistance bulletin (FAB) adopting a temporary enforcement policy regarding compliance with the ERISA Fiduciary Rule. ...more

Update – A Rule Deferred: Department of Labor Delays Implementation of Fiduciary Rule

by Snell & Wilmer on

As we previously reported in our February 16, 2017 blog post, “A Rule Deferred: Department of Labor Delays Implementation of Fiduciary Rule,” the DOL anticipated delaying the effective date of the fiduciary rule by 180 days. ...more

DOL Temporarily Forbears Enforcement of Fiduciary Duty Rule

by Burr & Forman on

The Department of Labor’s “fiduciary duty” Rule continues to get more bollixed up. DOL announced a temporary enforcement policy that will give a “free pass” for any violations (a) in the gap between effective date and delay,...more

ERISA's Fiduciary Rule at the Crossroads - DOL Puts the Brakes on Enforcement

by Dechert LLP on

At the end of last week, on March 10, 2017, the U.S. Department of Labor (the "DOL") issued Field Assistance Bulletin 2017-01 (the "FAB"). The FAB relates to the DOL's proposal, which was published in the Federal Register on...more

Fiduciary Rule on Hold - DOL proposes to delay application of Fiduciary rule. ERISA plan fiduciaries and service providers...

On March 2, 2017, the Department of Labor (DOL) proposed to delay the applicability date of the “Fiduciary” rule by 60 days. The DOL issued the proposal in response to the February 3, 2017, Presidential Memorandum...more

DOL Proposes to Delay Fiduciary Advice Rule, Requests Comments on Delay and on Costs, Benefits of the Rule

On March 2, the US Department of Labor (DOL) published a proposed extension (the "Proposal") of the effective date of what is commonly referred to as the "fiduciary rule" or the "fiduciary advice rule" (the "Rule"). The Rule...more

Proposed Delay of the DOL Fiduciary Rule - What Should Financial Institutions Do?

by K&L Gates LLP on

On March 2, 2017, the Department of Labor’s (“DOL”) proposal to delay its change to the definition of the term “fiduciary” (the “Fiduciary Rule”) was published in the Federal Register. Against expectations, the proposed delay...more

DOL Proposes 60-day Delay of Fiduciary Duty Rule

On March 1, 2017, the U.S. Department of Labor (DOL) announced a proposed 60-day extension of the final rule commonly known as the “Fiduciary Duty Rule,” which if approved would delay the effective date from April 10, 2017 to...more

Fiduciary Rule—Not Delayed Yet

by Morgan Lewis on

60-day delay proposed, comments requested on president’s study. The US Department of Labor (DOL) has proposed to delay the applicability date of the fiduciary rule (and related prohibited transaction exemptions) by 60...more

U.S. DOL Proposes Delay of Conflict of Interest Rule and Related Exemptions

by Proskauer Rose LLP on

On March 1, 2017, the U.S. Department of Labor proposed a 60-day delay of the conflict of interest rule and related exemptions (currently set to be applicable on April 10, 2017). The Department opened two comment periods...more

DOL Proposes 60-Day Delay of Fiduciary Rule in Response to White House Directive

by McDermott Will & Emery on

The future of the fiduciary rule—originally set to be implemented this upcoming April—remains uncertain after the White House directed the United States Department of Labor (DOL) to reevaluate, defer implementation and...more

Department of Labor Set to Eliminate the Fiduciary Rule

On March 2, 2017, the DOL proposed to extend the applicability date of the Department of Labor (“DOL”) Conflict of Interest Rule (the “Fiduciary Rule”) from April 10, 2017 for 60 days. The proposal states that the extension...more

DOL Fiduciary Rule: Proposed Delay to the Applicability Date

by Goodwin on

The DOL’s proposal comes in response to the Presidential Memorandum issued on February 3, 2017, regarding the Fiduciary Rule. The Presidential Memorandum directed the DOL to conduct an updated impact assessment on whether the...more

DOL Fiduciary Rule – A Proposed Delay and Uncertain Future

by Jackson Lewis P.C. on

We’ve previously written about the Department of Labor’s new fiduciary rule, which expands the definition of who is considered a fiduciary under the Employee Retirement Income Security Act, as amended (“ERISA”) and the...more

DOL Proposes 60-Day Delay of Fiduciary Rule

by Burr & Forman on

The US Department of Labor today proposed a 60-day extension (through June 9) for the effective date of its Fiduciary Duty Rule and related exemptions. The extension would give DOL some time to complete the re-analyses...more

U.S. DOL Proposes Delay of Conflict of Interest Rule and Related Exemptions

On March 1, 2017, the U.S. Department of Labor proposed a 60-day delay of the conflict of interest rule and related exemptions (currently set to be applicable on April 10, 2017). The Department opened two comment periods...more

DOL Proposes to Delay Fiduciary and Beryllium Rules

by Littler on

In response to recent presidential directives, the U.S. Department of Labor is taking steps to delay the applicability and effective dates of two rules. First, the DOL's Employee Benefits Security Administration (EBSA) has...more

USDOL Prevails in Kansas in Another Decision on Fiduciary Rule

On February 17, 2017, a federal district Court in Kansas upheld the U.S. Department of Labor’s conflict of interest rule and related exemptions in a suit brought by Market Synergy Group, Inc. This ruling on the merits follows...more

President Trump Issues Presidential Memorandum Mandating Reconsideration of the Fiduciary Rule

by Shearman & Sterling LLP on

President Trump issued a Presidential Memorandum requiring the US Department of Labor to reconsider its proposed “fiduciary rule,” which subjects many of the investment recommendations from financial advisors to retail...more

DOL Fiduciary Rule – What’s Next?

by K&L Gates LLP on

On an almost daily basis, there are developments regarding the status of the Department of Labor’s (“DOL”) fiduciary rule creating a climate of uncertainty. Stakeholders, such as financial institutions that serve retirement...more

A Rule Deferred: Department of Labor Delays Implementation of Fiduciary Rule

by Snell & Wilmer on

As we previously discussed in our May 19, 2016 SW Benefits Update, the Department of Labor (the “Department”) previously issued final regulations on fiduciary conflicts of interest in retirement programs. The rules, which...more

Fiduciary Rule's Status Uncertain

by Tonkon Torp LLP on

On Friday, February 3, 2017, the President signed an executive order requiring the re-examination of the final Fiduciary Rule (81 Fed. Reg. 20946 (April 8, 2016)) set to go into effect on April 10, 2017. The Fiduciary Rule,...more

New Disability Claims Procedures Rules Applicable to ERISA Plans

by Kelley Drye & Warren LLP on

The U.S. Department of Labor has issued new regulations affecting how disability claims are handled under ERISA plans that provide disability benefits or base receipt of benefits on the existence of a disability. While most...more

Department of Labor Moves to Delay Fiduciary Rule

by Kiesewetter Law Firm on

On Thursday, February 9, 2017, the Department of Labor (DOL) filed a notice with the Office of Management and Budget (OMB) to delay the effective date of the final Conflict of Interest Rule that re-defines who is a fiduciary...more

Employee Benefits Advisory: White House Orders Review of DOL Final Fiduciary Rule

by Sherman & Howard L.L.C. on

On February 3, 2017, President Donald J. Trump issued a Presidential Memorandum ordering the US Department of Labor (DOL) to conduct a full review of its final fiduciary rule and related guidance, anticipated to go into...more

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