The DOL’s expanded definition of fiduciary advice is described in the preamble to PTE 2020-02. The PTE then provides relief for conflicted non-discretionary recommendations (for example, rollover recommendations), if its...more
5/17/2022
/ Best Interest Standard ,
Broker-Dealer ,
Compensation ,
Department of Labor (DOL) ,
Employee Benefits ,
Fiduciary Duty ,
Financial Institutions ,
Individual Retirement Account (IRA) ,
Internal Revenue Code (IRC) ,
Investment Adviser ,
IRA Rollovers ,
Plan Participants ,
Registered Investment Advisors ,
Retirement Plan ,
Securities and Exchange Commission (SEC)
The DOL has issued FAQs that generally explain PTE 2020-02 and the expanded definition of fiduciary advice, particularly for rollover recommendations. The DOL’s expanded definition of fiduciary advice was described in the...more
The DOL has issued FAQs that generally explain PTE 2020-02 and the expanded definition of fiduciary advice. The DOL’s expanded definition of fiduciary advice was described in the preamble to PTE 2020-02....more
The DOL has issued FAQs that generally explain PTE 2020-02 and the expanded definition of fiduciary advice.
The DOL’s expanded definition of fiduciary advice was described in the preamble to PTE 2020-02...more
3/14/2022
/ Best Interest Standard ,
Department of Labor (DOL) ,
Fiduciary Duty ,
Financial Institutions ,
Individual Retirement Account (IRA) ,
Investment ,
Investment Adviser ,
Investment Management ,
Prohibited Transactions ,
PTEs ,
Retirement Plan
This series focuses on the DOL’s new fiduciary “rule”, which was effective on February 16. This, and the next several, articles look at the Frequently Asked Questions (FAQs) issued by the DOL to explain the fiduciary...more
3/1/2022
/ Best Interest Standard ,
Broker-Dealer ,
Compliance ,
Department of Labor (DOL) ,
Exemptions ,
Fiduciary Duty ,
Fiduciary Rule ,
Investment Adviser ,
Investment Management ,
IRS ,
Prohibited Transactions ,
PTEs ,
Regulation Best Interest
This series focuses on the DOL’s new fiduciary “rule”, which was effective on February 16. This, and the next several, articles look at the Frequently Asked Questions (FAQs) issued by the DOL to explain the fiduciary...more
This series focuses on the DOL’s new fiduciary “rule”, which was effective on February 16. This, and the next several, articles look at the Frequently Asked Questions (FAQs) issued by the DOL to explain the fiduciary...more
The Department of Labor’s “Fiduciary Rule,” PTE 2020-02: The FAQs -
Key Takeaways -
▪️ The DOL has issued FAQs that generally explain PTE 2020-02 and the expanded definition of fiduciary advice.
▪️ In FAQ 18, the DOL...more
2/9/2022
/ Annuities ,
Best Interest Standard ,
Broker-Dealer ,
Department of Labor (DOL) ,
Fiduciary Duty ,
Financial Institutions ,
Financial Services Industry ,
Insurance Industry ,
Investment Adviser ,
PTEs ,
Securities and Exchange Commission (SEC)
The Department of Labor’s “Fiduciary Rule,” PTE 2020-02: The FAQs -
Key Takeaways -
▪️ The DOL has issued FAQs that generally explain PTE 2020-02 and the expanded definition of fiduciary advice.
▪️ In FAQ 18, the...more
2/3/2022
/ Best Interest Standard ,
Broker-Dealer ,
Department of Labor (DOL) ,
Fiduciary Duty ,
Financial Institutions ,
Insurance Industry ,
Investment Adviser ,
Prohibited Transactions ,
PTE 84-24 ,
PTEs ,
Standard of Care
This series focuses on the DOL’s new fiduciary “rule”, which was effective on February 16. This, and the next several, articles look at the Frequently Asked Questions (FAQs) issued by the DOL to explain the fiduciary...more
12/14/2021
/ Best Interest Standard ,
Broker-Dealer ,
Department of Labor (DOL) ,
Fiduciary Duty ,
Fiduciary Rule ,
Financial Institutions ,
Investment Adviser ,
Investment Management ,
Prohibited Transactions ,
PTEs ,
Regulation Best Interest ,
Regulation BI ,
Retirement Plan ,
Securities and Exchange Commission (SEC)
This series focuses on the DOL’s new fiduciary “rule”, which was effective on February 16. This, and the next several, articles look at the Frequently Asked Questions (FAQs) issued by the DOL to explain the fiduciary...more
12/8/2021
/ Best Interest Standard ,
Broker-Dealer ,
Department of Labor (DOL) ,
Fiduciary Duty ,
Financial Institutions ,
Individual Retirement Account (IRA) ,
Investment Adviser ,
Mitigation ,
Prohibited Transactions ,
PTEs ,
Regulation Best Interest ,
Retirement Plan ,
Securities and Exchange Commission (SEC)
The Department of Labor’s “Fiduciary Rule,” PTE 2020-02: The FAQs -
Key Takeaways -
◾ The DOL has issued FAQs that generally explain PTE 2020-02 and the expanded definition of fiduciary advice.
◾ In FAQ 16, the DOL...more
11/30/2021
/ Best Interest Standard ,
Broker-Dealer ,
Department of Labor (DOL) ,
Fiduciary Duty ,
Financial Institutions ,
Individual Retirement Account (IRA) ,
Investment Adviser ,
IRA Rollovers ,
Prohibited Transactions ,
PTEs ,
Regulation Best Interest ,
Retirement Plan ,
Securities and Exchange Commission (SEC)
The Department of Labor’s “Fiduciary Rule,” PTE 2020-02: The FAQs -
Key Takeaways -
◾ The DOL has issued FAQs that generally explain PTE 2020-02 and the expanded definition of fiduciary advice.
◾ In FAQ 16, the DOL...more
11/23/2021
/ Best Interest Standard ,
Broker-Dealer ,
Conflicts of Interest ,
Fiduciary Duty ,
Financial Institutions ,
Individual Retirement Account (IRA) ,
Investment Adviser ,
IRA Rollovers ,
Mitigation ,
Regulation Best Interest ,
Retirement ,
Securities and Exchange Commission (SEC) ,
Standard of Conduct
There is nothing a plan sponsor or ERISA fiduciary can do to prevent allegations of fiduciary breach; however, there are many things they can do to be prepared to rebut such claims. Unfortunately, because of “headline news,”...more
This series focuses on the DOL’s new fiduciary “rule”, which was effective on February 16. This, and the next several, articles look at the Frequently Asked Questions (FAQs) issued by the DOL to explain the fiduciary...more
11/16/2021
/ Best Interest Standard ,
Broker-Dealer ,
Department of Labor (DOL) ,
Fiduciary Duty ,
Financial Institutions ,
Individual Retirement Account (IRA) ,
Investment ,
Investment Adviser ,
Investors ,
IRA Rollovers ,
Prohibited Transactions ,
PTEs ,
Retirement Plan
This series focuses on the DOL’s new fiduciary “rule”, which was effective on February 16. This, and the next several, articles look at the Frequently Asked Questions (FAQs) issued by the DOL to explain the fiduciary...more
11/9/2021
/ Best Interest Standard ,
Broker-Dealer ,
Department of Labor (DOL) ,
Employee Retirement Income Security Act (ERISA) ,
Fiduciary Duty ,
Financial Services Industry ,
Individual Retirement Account (IRA) ,
Investment ,
Investment Adviser ,
IRA Rollovers ,
Prohibited Transactions ,
PTEs ,
Securities and Exchange Commission (SEC)
This series focuses on the DOL’s new fiduciary “rule”, which was effective on February 16. This article looks at the Department of Labor’s recent extension of its non-enforcement policy regarding the conditions of Prohibited...more
11/2/2021
/ Best Interest Standard ,
Broker-Dealer ,
Department of Labor (DOL) ,
Employee Retirement Income Security Act (ERISA) ,
Fiduciary Duty ,
Fiduciary Rule ,
Financial Institutions ,
Individual Retirement Account (IRA) ,
Investment Adviser ,
Prohibited Transactions ,
PTEs ,
Retirement Plan ,
Standard of Conduct
The Department of Labor’s “Fiduciary Rule,” PTE 2020-02: The FAQs -
This series focuses on the DOL’s new fiduciary “rule”, which was effective on February 16. This, and the next several, articles look at the Frequently...more
10/19/2021
/ Best Interest Standard ,
Broker-Dealer ,
Department of Labor (DOL) ,
Fiduciary Duty ,
Financial Institutions ,
Individual Retirement Account (IRA) ,
Investment ,
Investment Adviser ,
Investors ,
IRA Rollovers ,
Prohibited Transactions ,
PTEs ,
Regulation Best Interest ,
Retirement Plan
This series focuses on the DOL’s new fiduciary “rule”, which was effective on February 16. This, and the next several, articles look at the Frequently Asked Questions (FAQs) issued by the DOL to explain the fiduciary...more
9/30/2021
/ Best Interest Standard ,
Broker-Dealer ,
Department of Labor (DOL) ,
Fiduciary Duty ,
Financial Institutions ,
Individual Retirement Account (IRA) ,
Investment Adviser ,
Prohibited Transactions ,
PTEs ,
Regulation Best Interest ,
Retirement Plan
The DOL “Fiduciary Rule,” FAQ 15: Factors to Evaluate for a Rollover Recommendation (Part 2) -
This series focuses on the DOL’s new fiduciary “rule”, which was effective on February 16. This, and the next several, articles...more
9/21/2021
/ Best Interest Standard ,
Broker-Dealer ,
Compliance ,
Department of Labor (DOL) ,
Fiduciary Duty ,
Financial Services Industry ,
Individual Retirement Account (IRA) ,
Investment ,
Investment Adviser ,
IRA Rollovers ,
Prohibited Transactions ,
PTEs ,
Securities and Exchange Commission (SEC)
The DOL “Fiduciary Rule,” FAQ 15: Factors to Evaluate for a Rollover Recommendation (Part 2) -
This series focuses on the DOL’s new fiduciary “rule”, which was effective on February 16. This, and the next several, articles...more
9/15/2021
/ Best Interest Standard ,
Broker-Dealer ,
Department of Labor (DOL) ,
Fiduciary Duty ,
Fiduciary Rule ,
Financial Institutions ,
Investment Adviser ,
Investment Management ,
Prohibited Transactions ,
PTEs ,
Regulation Best Interest ,
Regulation BI ,
Retirement Plan ,
Securities and Exchange Commission (SEC) ,
Standard of Conduct
The DOL “Fiduciary Rule,” FAQ 15: Factors to Evaluate for a Rollover Recommendation -
This series focuses on the DOL’s new fiduciary “rule”, which was effective on February 16. This, and the next several, articles look at...more
9/7/2021
/ Best Interest Standard ,
Broker-Dealer ,
Compensation ,
Department of Labor (DOL) ,
Fiduciary Duty ,
Financial Institutions ,
Individual Retirement Account (IRA) ,
Investment Adviser ,
Prohibited Transactions ,
PTEs ,
Regulation Best Interest ,
Retirement Plan ,
Securities and Exchange Commission (SEC)
The DOL “Fiduciary Rule,” FAQ 13: Written Acknowledgement of Fiduciary Status -
This series focuses on the DOL’s new fiduciary “rule”, which was effective on February 16. This, and the next several, articles look at the...more
8/25/2021
/ Best Interest Standard ,
Broker-Dealer ,
Department of Labor (DOL) ,
Fiduciary Duty ,
Fiduciary Rule ,
Financial Institutions ,
Investment Adviser ,
Investment Management ,
Prohibited Transactions ,
PTEs ,
Regulation Best Interest ,
Regulation BI ,
Retirement Plan ,
Securities and Exchange Commission (SEC) ,
Standard of Conduct
The DOL “Fiduciary Rule,” FAQ 11: The Impartial Conduct Standards -
This series focuses on the DOL’s new fiduciary “rule”, which was effective on February 16. This, and the next several, articles look at the Frequently...more
8/10/2021
/ Best Interest Standard ,
Broker-Dealer ,
Business Conduct Standards ,
Department of Labor (DOL) ,
Employee Retirement Income Security Act (ERISA) ,
Fiduciary Duty ,
Financial Institutions ,
Individual Retirement Account (IRA) ,
Investment Adviser ,
Investment Management ,
Prohibited Transactions ,
PTEs ,
Retirement Plan
The DOL “Fiduciary Rule,” FAQ 10: The PTE Conditions -
This series focuses on the DOL’s new fiduciary “rule”, which was effective on February 16. This, and the next several, articles look at the Frequently Asked Questions...more
7/27/2021
/ Best Interest Standard ,
Compliance ,
Department of Labor (DOL) ,
Fiduciary Duty ,
Financial Institutions ,
Individual Retirement Account (IRA) ,
Investment Adviser ,
Prohibited Transactions ,
PTEs ,
Regulation Best Interest ,
Retirement Plan ,
Securities and Exchange Commission (SEC)