Exemptions, Investment Adviser, Best Interest Contract Exemptions

DOL Finalizes New Prohibited Transaction Exemption for “Investment Advice”, With Statement That Fiduciary Standard May Apply to...

Proskauer - Employee Benefits & Executive... on 1/21/2021

On December 18, 2020, the U.S. Department of Labor (the “DOL”) published in the Federal Register a final prohibited transaction class exemption (the “Exemption”) that allows “investment advice” fiduciaries to provide advice...more

DOL Proposes a New Fiduciary Investment Advice Exemption

Groom Law Group, Chartered on 7/6/2020

On June 29, the U.S. Department of Labor (“DOL”) proposed a new exemption from the prohibited transaction provisions of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”) in connection with the...more

DOL Announces New Enforcement Policy on BIC Arbitration Limitation Class Actions

Carlton Fields on 9/1/2017

In order for fiduciaries to receive compensation that varies based on their investment advice (e.g., commissions) or from third parties in connection with their advice (e.g., revenue sharing), they must comply with a...more

ERISA's Fiduciary Rule – Not Dead Yet, Not Dead . . . Ever?

Dechert LLP on 5/30/2017

It has been a long and winding road for the amended fiduciary regulation (the "Regulation") of the U.S. Department of Labor (the "DOL") under the Employee Retirement Income Security Act of 1974 ("ERISA"). The highly...more

U.S. DOL To Issue Final Rule and Exemptions on Fiduciary Standards

Proskauer - Employee Benefits & Executive... on 4/6/2016

On April 6, 2016, the U.S. Department of Labor will release its highly-anticipated Final Rule and Exemptions addressing when a person providing investment advice with respect to an employee benefit plan or individual...more

DOL's Proposed Best Interest Contract Exemption Could Require Dramatic Changes for Financial Institutions

Faegre Drinker Biddle & Reath LLP on 5/22/2015

The U.S. Department of Labor (DOL) has proposed a new “Best Interest Contract” prohibited transaction exemption, which is a standards-based exemption that applies to the receipt of compensation by advisers and their financial...more

Department of Labor Proposes New Fiduciary Regulation and Prohibited Transaction Exemption Relief for Investment Advice...

Skadden, Arps, Slate, Meagher & Flom LLP on 4/29/2015

On April 20, 2015, more than three years after withdrawing a similar proposal that was staunchly opposed by the financial services industry, the U.S. Department of Labor (DOL) published in the Federal Register a proposed...more

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