News & Analysis as of

Department of Labor (DOL) Field Assistance Bulletins Trump Administration

Venable LLP

A Glimmer of Hope for Employers Who Rely on Gig Workers: The DOL Will Not Enforce the 2024 Independent Contractor Rule

Venable LLP on

Positive news for employers: the Department of Labor (DOL) announced it will no longer enforce the 2024 Biden-era independent contractor final rule that aimed to reclassify gig workers as employees rather than independent...more

Ballard Spahr LLP

DOL Hits Pause on Collecting Liquidated Damages

Ballard Spahr LLP on

On June 24, 2020, the U.S. Department of Labor (DOL) issued a Field Assistance Bulletin changing the DOL’s typical practice of seeking liquidated damages in settlements in lieu of litigation. Specifically, Field Assistance...more

Fisher Phillips

Labor Department Offers Hint It May Be Supportive Of Gig Companies In Misclassification Situations

Fisher Phillips on

Although the document itself is fairly dense and complex, specifically focusing on the home-care registry industry, the Labor Department’s latest field assistance bulletin could provide a helpful clue to gig economy companies...more

Proskauer - Employee Benefits & Executive...

Department of Labor Officially Proposes Delaying Fiduciary Rule’s Exemptions for 18 Months

On August 30, 2017, the Department of Labor (“DOL”) officially proposed delaying the applicability date of exemptions to its fiduciary rule until July 1, 2019. The proposal was expected after DOL stated in a court filing...more

Bowditch & Dewey

DOL Fiduciary Rule: Love It or Hate It, It’s Here

Bowditch & Dewey on

If you have an account in a retirement plan where you work or you own an Individual Retirement Account, you may get investment advice from an investment advisor. You might expect that advisor to give you advice that was in...more

Burr & Forman

IRS Synchs Excise Tax to DOL's Enforcement Policy on Fiduciary Rule

Burr & Forman on

The IRS released guidance this week announcing that it will not apply IRC § 4975 excise taxes (15% on prohibited transactions) and related reporting requirements “with respect to any transaction or agreement to which the...more

Bass, Berry & Sims PLC

DOL Announces Temporary No Enforcement Policy of Fiduciary Rule

Bass, Berry & Sims PLC on

Earlier this month, the Department of Labor (DOL) proposed a 60-day delay of the April 10, 2017 effective date of its (much debated) fiduciary rule. The fiduciary rule – a vestige of the Obama Administration – was thought to...more

BCLP

Worried About the Fiduciary Rule? Don’t Be…Yet!

BCLP on

The Department of Labor (DOL) released Field Assistance Bulletin 2017-01 on March 10, 2017, which outlines a temporary enforcement policy related to its final fiduciary rule. Background - On February 3, 2017,...more

BCLP

Who’s on First? - Current Status of the DOL’s Fiduciary Duty Rule

BCLP on

On March 10, 2017, the Department of Labor (“DOL”) issued “Field Assistance Bulletin No. 2017-01,” notifying financial services firms that the DOL will not, “in the short term,” pursue enforcement of its proposed new...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

Tucker Arensberg, P.C.

DOL Issues Temporary Enforcement Policy to Alleviate Uncertainty

Tucker Arensberg, P.C. on

The DOL issued a Field Assistance Bulletin addressing both a situation in which the final rule delaying the prior fiduciary rules is not issued before April 10, 2017 when those rules take effect and a situation in which the...more

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