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Today's Popular Updates › Best Interest Contract Exemptions

A repository for the most well-read content on JD Supra at any given time, along with occasional roundups of popular content by specific topic. Also stop by for monthly recaps of hot articles for the previous... more +
A repository for the most well-read content on JD Supra at any given time, along with occasional roundups of popular content by specific topic. Also stop by for monthly recaps of hot articles for the previous thirty days. less -
Dechert LLP

Activist States Move Forward with Fiduciary Standards for Broker-Dealers and Investment Advisers

Dechert LLP on

Although the U.S. Securities and Exchange Commission (SEC) staff is currently drafting proposed rules relating to the standard of conduct for broker-dealers and investment advisers, several states have decided not to wait for...more

Eversheds Sutherland (US) LLP

Insurance Topics We Will Be Watching in 2018

Eversheds Sutherland (US) LLP on

On its current course, this year could be both the best and the worst of times for insurance. The US economy continues to enjoy steady growth, stock indices continue to reach new highs and tax reform in the US allows both...more

Carlton Fields

Did Santa Give the Insurance Industry a Lump of Coal or a Diamond in the Rough? The Proposed Suitability and Best Interest...

Carlton Fields on

As reported in our November 28 client alert, the National Association of Insurance Commissioners’ (NAIC) Annuity Suitability Working Group (Suitability WG) circulated the proposed Suitability and Best Interest Standard of...more

Proskauer - Employee Benefits & Executive...

Department of Labor Finalizes 18-Month Delay of Fiduciary Rule Exemptions

Proskauer - Employee Benefits & Executive... on

On November 27, 2017, the Department of Labor (“DOL”) finalized the delay of the applicability date for certain conditions for exemptions to the fiduciary rule until July 1, 2019. This delay was initially proposed in late...more

Carlton Fields

The DOL Fiduciary Rule: Charting a Course, Avoiding Collisions & Potential Litigation Q&A #2 - Q&As on Annuity Sales Practices,...

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

K&L Gates LLP

DOL Officially Proposes 18-Month Extension of Fiduciary Rule Exemptions’ Transition Period

K&L Gates LLP on

On Thursday, August 31, 2017, the Department of Labor (DOL) published its proposal to extend the “Transition Period” for the Best Interest Contract (BIC) Exemption and Principal Transaction Exemption from its currently...more

K&L Gates LLP

DOL Proposes 18-Month Extension of Fiduciary Rule's Transition Period

K&L Gates LLP on

On August 9, the Department of Labor (“DOL”) submitted to the Office of Management and Budget (“OMB”) proposed amendments to the Best Interest Contract Exemption and other new and amended prohibited transaction exemptions...more

Littler

WPI Insider Briefing: After ACA "Repeal and Replace" Effort Fails, What's Next For Employers on Health Care and Other Workplace...

Littler on

Last month began with significant momentum but long odds that Senate Republicans would pass legislation repealing and replacing the Affordable Care Act (ACA). In the early hours of July 28, GOP efforts came to a screeching...more

Kilpatrick

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

Kilpatrick on

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

Carlton Fields

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

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

Littler

WPI Insider Briefing: Workplace Policy under the Trump Administration Begins to Take Shape as "Repeal and Replace" of the ACA...

Littler on

Five months into President Trump's term, his administration's workplace policy is beginning to take shape. From notable developments at the Department of Labor (DOL), to long-awaited nominations to the National Labor...more

Jackson Lewis P.C.

An Update On The DOL’s Fiduciary Rule

Jackson Lewis P.C. on

The DOL’s much anticipated (or maligned depending on the audience) Fiduciary Rule expands the definition of what constitutes investment advice under ERISA and thereby increases the number and types of retirement plan service...more

Proskauer - Employee Benefits & Executive...

DOL Again Seeks Comments on New Fiduciary Rules and Exemptions

Proskauer - Employee Benefits & Executive... on

On June 29, 2017, the Department of Labor (“DOL”) requested another round of public comment on its fiduciary rule—this time in the form of a Request (“RFI”) for Information. The RFI seeks input on (a) whether to extend the...more

Akerman LLP - HR Defense

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

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

BCLP

DOL FAQs Guide Compliance Efforts during Fiduciary Rule Transition Period

BCLP on

The Department of Labor has issued guidance in the form of Frequently Asked Questions to help firms and their advisers impacted by the Fiduciary Rule know what is expected on and after June 9, 2017, on and after January 1,...more

Proskauer Rose LLP

DOL’s Fiduciary Rule To Apply June 9th, Investment Managers and Advisers May Want to Take Action Now

Proskauer Rose LLP on

The U.S. Department of Labor's (DOL) final rule significantly expanding when a person is considered to be a fiduciary under the Employee Retirement Income Security Act of 1974 (ERISA) and the Internal Revenue Code (Code) as a...more

Burr & Forman

Will The Fiduciary Rule Live on Even if it is Repealed?

Burr & Forman on

The Department of Labor fiduciary rule was supposed to be implemented on April 10, 2017. That date was pushed back to June 9 so that it could be reassessed, and possibly modified or even repealed. The rule as it stands...more

Orrick, Herrington & Sutcliffe LLP

DOL's Fiduciary Rule Delay an Excellent Opportunity to Negotiate Stronger Indemnities

Orrick, Herrington & Sutcliffe LLP on

The DOL's fiduciary rule has been delayed. This delay, and the confusion swirling around if and when the DOL fiduciary rule will become applicable, is giving plan sponsors a window of time to renegotiate their contractual...more

Proskauer - Employee Benefits & Executive...

DOL Fiduciary Rule Delayed, But At Least Parts Might Be Here to Stay

Proskauer - Employee Benefits & Executive... on

On April 4, 2017, the U.S. Department of Labor issued a final rule postponing applicability of the conflict of interest rule and related exemptions for sixty days, until June 9, 2017...more

Snell & Wilmer

Update – A Rule Deferred: Department of Labor Delays Implementation of Fiduciary Rule

Snell & Wilmer on

As we previously reported in our February 16, 2017 blog post, “A Rule Deferred: Department of Labor Delays Implementation of Fiduciary Rule,” the DOL anticipated delaying the effective date of the fiduciary rule by 180 days. ...more

Proskauer Rose LLP

ERISA Litigation Newsletter - July 2016

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Editor's Overview - This month we take a look at the plaintiffs' past successes in fee litigations, and the influx of such lawsuits seeking to impose heightened fiduciary standards for 401(k) plans. Regardless of the...more

Franczek P.C.

U.S. Department of Labor Issues Final Rule Redefining ERISA’s Definition of “Fiduciary” for Certain Types of Investment Advice

Franczek P.C. on

On April 6th, the U.S. Department of Labor (DOL) released a final rule (the “Fiduciary Rule”) that expands the types of retirement investment advice that will be subject to the fiduciary duty rules of the Employee Retirement...more

McGuireWoods LLP

DOL Delivers Final Fiduciary Investment Advice Rule

McGuireWoods LLP on

Last week, the U.S. Department of Labor (DOL) issued a final rule revamping the standards for determining when a party is a fiduciary with respect to an ERISA retirement plan or an individual retirement account (IRA) by...more

Clark Hill PLC

“They’re Here!” – Department of Labor Issues Final ERISA Fiduciary and Conflict of Interest Regulations

Clark Hill PLC on

After receiving and reviewing extensive feedback on its earlier proposals, the Department of Labor (“DOL”) has issued final regulations expanding the definition of a fiduciary under the Employee Retirement Income Security Act...more

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