Daniel Kleinman

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DOL Removes Restrictions on Recommendations of Principal Traded Assets from Prohibited Transaction Exemption 2020-02

The US Department of Labor (DOL) amended Prohibited Transaction Exemption 2020-02 (PTE 2020-02) to provide relief for recommendations of all types of principal trades. This change, effective September 23, 2024 and subject to...more

7/5/2024 / Department of Labor (DOL) , Fiduciary Duty , Initial Public Offering (IPO) , Investors , Popular , Prohibited Transactions , PTEs , Securities and Exchange Commission (SEC)

Fiduciary Rule FAQs Challenge Back-End Recruitment Bonuses

Financial services firms with active recruiting programs should consider immediately how the DOL’s FAQs affect their compensation packages with respect to back-end recruitment awards. To help the financial services...more

11/1/2016 / Best Interest Contract Exemptions , Broker-Dealer , Department of Labor (DOL) , Fiduciary Rule , Financial Institutions , Financial Services Industry , Grandfathering Rules , Hiring & Firing , Investors , Recruitment Policies

Department of Labor Retirement Initiative Fails to Consider Current Regulatory Regime, which Comprehensively Protects Investors,...

We have prepared this white paper to address errant claims made in the Council of Economic Advisers’ (CEA) report, “The Effects of Conflicted Advice on Retirement Savings” (CEA Report), regarding perceived inadequacies in the...more

3/24/2015 / Commodity Exchange Act (CEA) , Department of Labor (DOL) , Investors , Retirement Plan

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