The Department of Labor (DOL) has issued a proposal to update the definition of an investment advice fiduciary under the Employee Retirement Income Security Act (ERISA). The updated definition of an investment advice fiduciary would apply when a financial service provider gives investment advice for a fee to retirement plan participants, IRA owners and others.
Plan fiduciaries are charged with acting in the best interests of plan participants. What does that mean in practice, especially when it comes to selecting investments for defined contribution plans?
DOL Will Not Enforce ESG and Proxy Rules, Pending Agency Review March 10, 2021 In a welcome development, the Department of Labor has announced that it intends to revisit...
Following Weeks of Speculation, DOL Confirms February 16 Effective Date for Fiduciary Exemption February 16, 2021 The Department of Labor (DOL) has issued a press release in which it...
Biden Administration Acts Aggressively on Day 1 Regarding Regulatory Process DOL ESG Rule to be Reviewed, Fiduciary Exemption May be Delayed January 26, 2021 President Joe Biden was sworn...
DOL Fiduciary Exemption Confirms Rollover Advice is Investment Advice,Adds Rollover Disclosure Requirement and Self-Correction Provision Post-Inauguration Effective Date Raises Questions About Its Future December 21, 2020 The DOL has...
DOL Sends New Fiduciary Rule Proposal, Other Items to OMB June 9, 2020 The Department of Labor (DOL) has sent a proposal entitled “Improving Investment Advice for Workers and...
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