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Retirement Plan Fiduciary Duty The United States Department of Labor

Funds Talk: September 2017 - Fiduciary Rule Update – September 2017

The long-anticipated and often-delayed new fiduciary rule under the Employee Retirement Income Security Act of 1974, as amended (ERISA) finally went into effect on June 9, with transition relief blunting its impact until...more

The Final Rule: DOL Proposes to Extend Transition Period until July 1, 2019, and Issues Additional Non-Enforcement Policy for...

By a notice published in the Federal Register on August 31, 2017, the Department of Labor proposed to extend from January 1, 2018, until July 1, 2019, the date for compliance with the full conditions in its new “investment...more

Department of Labor Proposes 18-Month Delay in Applicability Date for Portions of Fiduciary Rule

by Ropes & Gray LLP on

On August 31, 2017, the U.S. Department of Labor (the “DOL”) published proposed amendments to the Best Interest Contract Exemption and other exemptions that would delay the applicability date of many of the requirements for...more

DOL to Postpone Deadline for Fiduciary Rule

by Burr & Forman on

The Department of Labor has received OMB certification, and sought expedited notice-and-comment, for a rule change that would postpone the full implementation deadline for its Fiduciary Rule from January 1, 2018 until July 1,...more

Labor Department Extends Applicability Date of BIC Exemption and PTE 84-24 an Additional 18 Months

by Carlton Fields on

The Labor Department has proposed extending the applicability date of the Best Interest Contract Exemption, the Class Exemption for Principal Transactions in Certain Assets Between Investment Advice Fiduciaries, and certain...more

Employee Benefits Developments - August 2017

by Hodgson Russ LLP on

The Employee Benefits practice group is pleased to present the Benefits Developments Newsletter for the month of August, 2017. Affordable Care Act – “I’m not dead yet!” - The Patient Protection and Affordable Care Act...more

The DOL Fiduciary Rule: Charting a Course, Avoiding Collisions & Potential Litigation Q&A #2

by Carlton Fields on

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

Back to School for ERISA Fiduciary Claims: How to Prepare for This Trend in University Litigation

In the past 10 years, there have been an increasing number of lawsuits asserting Employee Retirement Income Security Act of 1974 (ERISA) fiduciary claims. These have been accompanied by an increased focus by the Department of...more

DOL Fiduciary Rule Status Update for Fraternal Benefit Societies

by Stinson Leonard Street on

In papers filed as part of a lawsuit in the U.S. District Court for the District of Minnesota, the Department of Labor (DOL) has stated that they are considering a further delay of the effective date for full implementation...more

Department of Labor Seeks Delay of Fiduciary Rule Implementation Until July 2019

by Hinshaw & Culbertson LLP on

The U.S. Department of Labor has moved to delay implementation of three exemptions of the “fiduciary rule” until July 2019. The regulation, which partially went into effect earlier this year, requires financial advisers to...more

Department of Labor to Propose 18-Month Delay in Applicability Date for Portions of Fiduciary Rule

by Ropes & Gray LLP on

On August 9, 2017, the U.S. Department of Labor (the “DOL”) filed a notice in connection with pending litigation that revealed a portion of its current plans for the fiduciary rule. In the filing, the DOL stated that it has...more

DOL Seeks to Extend Transition Period under the Fiduciary Rule

by Robinson & Cole LLP on

The U.S. Department of Labor (DOL) has filed a proposal with the Office of Management and Budget (OMB) to delay implementation of the following exemptions under the fiduciary rule from January 1, 2018 to July 1,...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

The Labor Department has proposed (in a District of Minnesota court filing, at least) an 18-month delay in the retirement-adviser fiduciary duty rule compliance deadline. Experts suggest that a significantly revised rule is...more

DOL Extends Fiduciary Rule Transition Period, Issues FAQs on Fee Disclosures

Transition Period Extension - In an August 9th court filing, the DOL announced it will extend the transition period for three prohibited transaction exemptions relating to the fiduciary investment advice rule (the...more

The DOL Fiduciary Rule: Charting a Course, Avoiding Collisions & Potential Litigation - Q&A on IRA Transactions

by Carlton Fields on

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

Employee Benefits Developments - June 2017

by Hodgson Russ LLP on

The Employee Benefits practice group is pleased to present the Benefits Developments Newsletter for the month of June, 2017. Click through the links below for more information on each specific development or case....more

Department of Labor Secretary Acosta Announces Partial Implementation of the Fiduciary Rule

On May 22, 2017, Department of Labor (DOL) Secretary Alexander Acosta announced in an op-ed in the Wall Street Journal that the DOL will not issue another delay of the “fiduciary rule,” set to become generally effective on...more

Finally in Play: A Refresher on the Fiduciary Rule for Plan Sponsors

by Akerman LLP - HR Defense on

On the heels of Labor Secretary Alexander Acosta’s announcement that the Department of Labor’s oft-delayed “Fiduciary Rule” would finally take effect on June 9th, Congressmen introduced new legislation on June 8th to overturn...more

The DOL’s Fiduciary Rule Takes Effect Without Further Delay

The Secretary of Labor, John Acosta, announced recently that no further delays will apply to the Department of Labor’s new Fiduciary Rule on investment advice conflicts of interest and related prohibited transaction...more

DOL Fiduciary Rule: Love It or Hate It, It’s Here

by Bowditch & Dewey on

If you have an account in a retirement plan where you work or you own an Individual Retirement Account, you may get investment advice from an investment advisor. You might expect that advisor to give you advice that was in...more

Employers, Be Aware of - but Don’t Worry about - the Fiduciary Rule’s June 9 Deadline

by Miles & Stockbridge P.C. on

If you’ve had better things to do, you might only be vaguely aware that the new fiduciary rule becomes effective on June 9, 2017. We’ve written about this before (here and here), but a quick refresher might be helpful as the...more

DOL Fiduciary Rule Still a Go for June 9, but its Future Remains Uncertain

by Littler on

United States Department of Labor (“DOL”) Secretary Alexander Acosta recently announced that the final DOL fiduciary regulations (the “Fiduciary Rule”) will go into effect on June 9, 2017. In an op-ed in the Wall Street...more

Fiduciary-Rule Litigation Moves to Court of Public Opinion

by Burr & Forman on

Last week Labor Secretary Acosta chose a Wall Street Journal op-ed to announce DOL’s decision not to delay the “fiduciary rule” past the once-extended June 9 effective date....more

The Department of Labor Confirms June 9th as the Effective Date of the Fiduciary Rule: What Employers Need to Know Now

by Dickinson Wright on

On May 22, 2017, Secretary of Labor Jim Acosta announced that, after having been delayed 60 days, the Department of Labor’s (“DOL”) Conflict of Interest Rule (“Fiduciary Rule”) will largely apply on June 9, 2017. At that...more

SEC Returns to the Fiduciary-Rule Arena

by Burr & Forman on

On June 1, new SEC Chair Clayton returned the SEC to the arena in the policy debate surrounding the DOL’s Fiduciary Rule. Clayton’s public statement responded to a direct invitation for SEC participation by DOL Secretary...more

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