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Retirement Plan Employee Retirement Income Security Act (ERISA) Prohibited Transactions

Faegre Drinker Biddle & Reath LLP

Rollover Recommendations: PTE 2020-02 Compliance Considerations Following the DOL Fiduciary Rule Stay

The effective date of the DOL’s new expansive fiduciary rule and the amendments to Prohibited Transaction Exemption (PTE) 2020-02 has been stayed pending the outcome of the lawsuits challenging the rule and the amended PTE....more

The Wagner Law Group

District Court Grants Motion to Dismiss Forfeiture Complaint

The Wagner Law Group on

Last year, we alerted you to the filing of several class action lawsuits alleging that plan fiduciaries violated their duties of prudence and loyalty under Title I of ERISA by using forfeitures to reduce employer...more

Faegre Drinker Biddle & Reath LLP

The New Fiduciary Rule (43): The Regulation and Exemptions are Stayed (3)—What Remains?

The DOL’s fiduciary regulation was scheduled to become effective this September 23. The exemptions were scheduled to become partially effective this September 23 and fully effective September 23, 2025....more

Lowenstein Sandler LLP

The ERISA Fiduciary Rule – Courts Say the U.S. Department of Labor’s 'Final Rule' Isn’t Final After All

The U.S. Department of Labor’s (DOL) latest attempt to redefine who/what a fiduciary is for purposes of the Employee Retirement Income Security Act of 1974, as amended (ERISA), has been stayed by two U.S. district courts on...more

Lathrop GPM

Retirement Security Fiduciary Rule Stayed

Lathrop GPM on

Under recently finalized federal regulations (commonly referred to as the “Fiduciary Rule”) that were scheduled to become effective on September 23, 2024, the U.S. Department of Labor intended to expand the fiduciary...more

Faegre Drinker Biddle & Reath LLP

The New Fiduciary Rule (42):The Regulation and Exemptions are Stayed (2)—What Remains?

The DOL’s fiduciary regulation was scheduled to become effective this September 23. The exemptions were scheduled to become partially effective this September 23 and fully effective September 23, 2025....more

Faegre Drinker Biddle & Reath LLP

The New Fiduciary Rule (41):The Regulation and Exemptions are Stayed

The DOL’s fiduciary regulation was scheduled to become effective this September 23. The exemptions were scheduled to become partially effective this September 23 and fully effective September 23, 2025....more

Faegre Drinker Biddle & Reath LLP

The New Fiduciary Rule (40): Rollovers and the Insurance License Issue

The Department of Labor’s final regulation defining fiduciary status for investment advice to retirement investors will be effective this September 23. Where a fiduciary recommendation results in additional compensation for...more

Jackson Lewis P.C.

Conflicting Decisions Foreshadow Upcoming Disputes in ERISA 401(K) Forfeiture Class Actions

Jackson Lewis P.C. on

Conflicting orders on motions to dismiss from two California courts foreshadow issues for a new theory of ERISA liability. Employers have faced a recent wave of novel ERISA class actions that challenge the reallocation of...more

Morrison & Foerster LLP

Amendment To QPAM Exemption

The Department of Labor (DOL) recently issued a final amendment (“Final Amendment”) to Prohibited Transaction Exemption (PTE) 84-14, which is otherwise known as the “QPAM Exemption.” The QPAM Exemption is a prohibited...more

Holland & Knight LLP

Department of Labor Releases New ERISA Fiduciary Rule

Holland & Knight LLP on

The U.S. Department of Labor (DOL) on April 23, 2024, issued the Retirement Security Rule (the Final Rule), which expands who qualifies as an investment advice fiduciary for purposes of the Employee Retirement Income Security...more

SEC Compliance Consultants, Inc. (SEC³)

What Advisers Need to Know Now About Giving Rollover Advice after September 23, 2024

This article was originally published on Kitces.com, on May 15, 2024, and is available at at DoL’s Retirement Security Rule & PTE 2020-02 Amendment: What Advisers Need to Know Now about Giving Rollover Advice After September...more

Bricker Graydon LLP

DOL Fiduciary Investment Advice - We Have Tread This Road Before, Has Anything Changed for Advisors?

Bricker Graydon LLP on

The Department of Labor (DOL) recently released the Retirement Security Rule - yet another iteration of its updated fiduciary rule that has been kicking around the agency for over a decade....more

Morgan Lewis

DOL Publishes QPAM Exemption Amendments: Action Items and Considerations for QPAMS, Plan Sponsors

Morgan Lewis on

The US Department of Labor (DOL) published final amendments to Prohibited Transaction Class Exemption 84-14, the so-called “QPAM Exemption,” in the Federal Register on April 3, 2024. The amendments are anticipated to affect...more

Faegre Drinker Biddle & Reath LLP

The New Fiduciary Rule (33): The DOL’s Final PTE 84-24

On April 25, 2024, the Department of Labor published its final regulation defining fiduciary status for investment advice and the related exemptions—PTE 2020-02 and 84-24. The exemptions provide relief from prohibited...more

Stark & Stark

The New Retirement Security Rule: Updated Fiduciary Definition under ERISA

Stark & Stark on

​​​​​​​On April 23, 2024, the U.S. Department of Labor (the “DOL”) promulgated a final rule, titled the “Retirement Security Rule” (the “Final Rule”), updating the definition of an “investment advice fiduciary” under the...more

ArentFox Schiff

Biden Administration Issues Final Rule Expanding ERISA Fiduciary Definition, Enhancing Protections for Pension Plan Participants

ArentFox Schiff on

On April 23, the US Department of Labor (DOL) released a final rule significantly expanding the definition of who qualifies as a fiduciary under the Employee Retirement Income Security Act (ERISA) (the Retirement Security...more

Eversheds Sutherland (US) LLP

Department of Labor’s final Fiduciary Rule 4.0

On April 23, 2024, the US Department of Labor (DOL) released its Final Rule 4.0 regarding ERISA fiduciary investment advice, including amended exemptions for conflicted investment advice. Our initial analysis of the Final...more

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

Faegre Drinker Biddle & Reath LLP

The New Fiduciary Rule (31):The DOL’s Final Fiduciary Definition Compared to the Proposal

On April 25, 2024, the Department of Labor published its final regulation on defining fiduciary status for investment advice, and the related exemptions, in the Federal Register. The exemptions provide relief from prohibited...more

Dechert LLP

Yet Another DOL Fiduciary Rule Released: Will the ‘Regular Basis’ of Prior Outcomes Follow ‘Suit’?

Dechert LLP on

The Department of Labor issued a final release (the “Final Release”) which (1) finalized changes to its 1975 rule defining when institutions and individuals are providing fiduciary “investment advice” to plans that are...more

Davis Wright Tremaine LLP

Labor Department Finalizes Investment Advice Fiduciary Rule Under ERISA

For the second time in a decade, the Department of Labor (DOL) attempted to expand the reach (and requirements) of the Employee Retirement Income Security Act of 1974 (ERISA). On April 23, 2024, DOL succeeded and announced...more

K&L Gates LLP

QPAM Exemption Amendment—Key Takeaways and Action Steps for Advisors and Other Stakeholders

K&L Gates LLP on

Executive Summary - Many investment advisers and other financial institutions rely on the Department of Labor’s QPAM Exemption when providing services to, and transacting with, employer-sponsored retirement plans, individual...more

Faegre Drinker Biddle & Reath LLP

The New Fiduciary Rule (29): The Final Rules Have Arrived

On April 25, 2024, the Department of Labor published its final regulation on fiduciary advice, and the related exemptions, in the Federal Register. The regulation defines fiduciary investment advice and the exemptions provide...more

Latham & Watkins LLP

Raising the Bar: DOL’s Amendment Sets Higher Standards for QPAM Qualification

Latham & Watkins LLP on

The DOL’s final amendment to the QPAM Exemption sets forth more rigorous compliance requirements and expands the circumstances of ineligibility, potentially affecting the operations and compliance procedures of investment...more

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