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
5/9/2024
/ Broker-Dealer ,
Congressional Review Act ,
Department of Labor (DOL) ,
Disclosure Requirements ,
Employee Retirement Income Security Act (ERISA) ,
Excise Tax ,
Exemptions ,
Fiduciary Rule ,
Individual Retirement Account (IRA) ,
Insurance Industry ,
Internal Revenue Code (IRC) ,
Investment ,
Investment Adviser ,
Policies and Procedures ,
Prohibited Transactions ,
Retirement Plan
On April 3, 2024, the Department of Labor (the “DOL”) issued its final amendment (“Final Amendment”) to Prohibited Transaction Class Exemption 84-14, commonly referred to as the “QPAM Exemption”.
Generally, the QPAM...more
4/9/2024
/ Criminal Convictions ,
Deferred Prosecution Agreements ,
Department of Labor (DOL) ,
Disqualification ,
Employee Retirement Income Security Act (ERISA) ,
Exemptions ,
Investment Adviser ,
Investment Management ,
New Amendments ,
Non-Prosecution Agreements ,
QPAM ,
Recordkeeping Requirements
The U.S. Department of Labor (the “DOL”) yesterday, on October 25, 2021, issued Field Advice Bulletin 2021-2 (the “2021 FAB”), along with an explanatory notice, (the “2021 Notice”) in connection with compliance with...more
The U.S. Department of Labor (the “DOL”) on June 29, 2020 issued a release (the “Release”) proposing an important new initiative for retirement accounts (“Plans”) that are subject to the Employee Retirement Income Security...more
7/20/2020
/ 1975 Rule ,
Banks ,
Broker-Dealer ,
Brokers ,
Comment Period ,
Covered Transactions ,
Defined Contribution Plans ,
Department of Labor (DOL) ,
Employee Retirement Income Security Act (ERISA) ,
Exemptions ,
Fiduciary Rule ,
Five-Part Test ,
Individual Retirement Account (IRA) ,
Insurance Industry ,
Investment Adviser ,
New Guidance ,
Prohibited Transactions ,
Proposed Rules ,
Public Comment ,
Regulation Best Interest ,
Retirement Plan ,
Rollover Equity
This week, on June 29, 2020, the U.S. Department of Labor (the “DOL”) issued a release (the “Release”) proposing an important new initiative for retirement accounts (“Plans”) that are subject to the Employee Retirement Income...more