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
In today’s episode, Andrew E. Graw, Megan Monson, and Jessica I. Kriegsfeld address the U.S. Department of Labor’s final amendment to Prohibited Transaction Class Exemption 84-14, commonly known as the QPAM exemption, and its...more
On April 23, the U.S. Department of Labor (DOL) finalized its latest effort to change the rules for determining who a fiduciary is under the Employee Retirement Income Security Act of 1974, as amended (ERISA). Called the...more
5/13/2024
/ Department of Labor (DOL) ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Fiduciary Duty ,
Fiduciary Rule ,
Five-Part Test ,
Individual Retirement Account (IRA) ,
Investment Adviser ,
Investors ,
Retirement Plan ,
Securities and Exchange Commission (SEC)
On April 3, 2024, the U.S. Department of Labor (DOL) released its final amendment to Prohibited Transaction Class Exemption 84-14, known as the Qualified Professional Asset Manager (QPAM) exemption. The QPAM exemption is...more
On October 31, 2023, the U.S. Department of Labor (DOL) proposed a new fiduciary rule that would expand the definition of “investment advice fiduciary” under ERISA to cover certain one-off recommendations and expand who is...more
On July 26, 2022, the U.S. Department of Labor (DOL) released a proposed amendment to Prohibited Transaction Class Exemption 84-14, known as the Qualified Professional Asset “Manager” (QPAM) exemption. ...more
8/5/2022
/ Department of Labor (DOL) ,
Employee Retirement Income Security Act (ERISA) ,
Fiduciary Duty ,
GAAP ,
Internal Revenue Code (IRC) ,
Investment Adviser ,
IRS ,
Notification Requirements ,
Proposed Amendments ,
QPAM ,
Real Party in Interest ,
Recordkeeping Requirements
Summaries of recent legislative and regulatory developments with respect to:
•SEC’s 2022 Examination Priorities • Proposed Amendments to Form PF Requirements-
•Proposed New Rules Applicable to Private Fund Advisers and...more
5/5/2022
/ Anti-Money Laundering ,
Beneficial Owner ,
Broker-Dealer ,
CFTC ,
Commodity Trading Advisors (CTAs) ,
CPOs ,
Cryptocurrency ,
Cybersecurity ,
Department of Labor (DOL) ,
Digital Assets ,
Employee Retirement Income Security Act (ERISA) ,
Environmental Social & Governance (ESG) ,
Fiduciary Rule ,
Foreign Investment ,
General Data Protection Regulation (GDPR) ,
Investment Adviser ,
Investment Funds ,
NFA ,
Proxy Voting ,
SEC Examination Priorities ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Threshold Requirements
On March 11, President Biden signed into law the American Rescue Plan Act of 2021 (ARPA), which provides temporary premium assistance for health, dental, and vision coverage under the Consolidated Omnibus Budget...more
5/28/2021
/ American Rescue Plan Act of 2021 ,
COBRA ,
Consolidated Appropriations Act (CAA) ,
Department of Labor (DOL) ,
Eligibility ,
Employer Group Health Plans ,
Guidance Update ,
IRS ,
Joe Biden ,
Notice Requirements ,
Premium Subsidies
On March 11, President Biden signed into law the American Rescue Plan Act of 2021 (ARPA) as part of a new (third) COVID-19 stimulus relief bill. ARPA assists qualifying individuals who lose coverage under an employer’s group...more
3/18/2021
/ American Rescue Plan Act of 2021 ,
COBRA ,
Coronavirus/COVID-19 ,
Corporate Counsel ,
Department of Labor (DOL) ,
Employer Group Health Plans ,
Enrollment ,
Involuntary Reduction in Force ,
IRS ,
Joe Biden ,
Medicare ,
Medicare Taxes ,
Relief Measures ,
Tax Credits
On December 15, 2020, the U.S. Department of Labor (DOL) released a final prohibited transaction class exemption for certain fiduciary investment advice actions. Issuance of the exemption is the latest in the tug of war of...more
On June 29, the U.S. Department of Labor (DOL) again waded into the financial services standard of care waters, only this time, it is staying in the shallow end. The DOL’s proposed prohibited transaction exemption (Proposed...more
7/17/2020
/ Best Interest Standard ,
Business Conduct Standards ,
Department of Labor (DOL) ,
Employee Retirement Income Security Act (ERISA) ,
Exemptions ,
Fiduciary Duty ,
Individual Retirement Account (IRA) ,
Investment Adviser ,
Reasonable Compensation ,
Recordkeeping Requirements ,
Retirement Plan