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Fiduciary Duty Fiduciary Rule Trump Administration

Carlton Fields

President Issues Regulatory Freeze: Will the DOL Fiduciary Rule Saga Continue?

Carlton Fields on

The regulatory pendulum has been swinging toward deregulation since Donald Trump was inaugurated last month. On his first day in office, January 20, 2025, President Trump issued a presidential memorandum titled “Regulatory...more

K&L Gates LLP

Trump Era DOL Rules - Will They Remain Under a Biden Administration?

K&L Gates LLP on

The Department of Labor (DOL) Employee Benefits Security Administration (EBSA) recently finalized a series of rules viewed as key Trump administration priorities. The rules include: Prohibited Transaction Exemption 2020-02,...more

Groom Law Group, Chartered

New Regulation Best Interest FAQs Address Topics Familiar to DOL Fiduciary Rule Veterans

On January 10, 2020, the staff of the Securities and Exchange Commission (“SEC”) updated its frequently asked questions on Regulation Best Interest (the “FAQs”). ...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

The Fiduciary Rule lives on

As referenced in the episode “The Foundation” from Seinfeld, Dr. McCoy did say at the end of Star Trek II after the death of Spock: “He’s really not dead, as long as remember him.” I feel the same way about the Department...more

Proskauer - Employee Benefits & Executive...

Fifth Circuit Vacates DOL Fiduciary Rule

In a 2-1 decision, the U.S. Court of Appeals for the Fifth Circuit vacated the Department of Labor’s fiduciary rule, including the expanded definition of “investment advice fiduciary” and the associated exemptions. The...more

Ballard Spahr LLP

Fifth Circuit Strikes Down DOL Investment Advice Fiduciary Rules

Ballard Spahr LLP on

The Fifth Circuit on March 15 vacated U.S. Department of Labor (DOL) regulations that redefined the circumstances in which a person who provides investment advice in connection with a retirement plan or individual retirement...more

Eversheds Sutherland (US) LLP

2017 in Review: ERISA guidance and enforcement

In 2017, the principal focus in the administration of the Employee Retirement Income Security Act of 1974, as amended (ERISA), by the Department of Labor (DOL) appropriately remained one of the extraordinary developments...more

Herbert Smith Freehills Kramer

ERISA Fiduciary Rule Facing Precarious Future

Since its original release as a proposed rule in April 2015 and as a final rule a year later, the Department of Labor’s (DOL's) so-called fiduciary rule — which expands the “investment advice fiduciary” definition under the...more

Pillsbury Winthrop Shaw Pittman LLP

DOL Again Delays Implementation of ERISA Fiduciary Rule

The department extends non-enforcement policy until July 1, 2019 and plans to propose a new streamlined class exemption under the Fiduciary rule. The DOL finalized its delay of certain portions of the Fiduciary rule until...more

Bradley Arant Boult Cummings LLP

Plan Sponsors Should Take Action during the New Fiduciary Rule Transition Relief Period

On November 29, the Department of Labor (DOL) announced an extension to July 1, 2019, of the previously established deadline for transition relief from many provisions of the new fiduciary rule applicable to investment...more

Proskauer - Employee Benefits & Executive...

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

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

Littler

Labor Secretary Discusses DOL Priorities During House Committee Hearing

Littler on

Labor Secretary Alexander Acosta fielded a range of questions on the DOL's priorities during a November 15 hearing before the House Committee on Education and the Workforce. Although members of the Committee inquired about...more

Troutman Pepper Locke

Treasury Report Addresses Regulatory Approaches Affecting Investment Companies and Their Advisers

Troutman Pepper Locke on

As required by President Trump’s Executive Order 13772, the U.S. Department of the Treasury issued a report, “A Financial System That Creates Economic Opportunities, Asset Management and Insurance,” addressing the regulatory...more

Bowditch & Dewey

Obama’s DOL Fiduciary Rule Fades into the Distance

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 financial advice about the assets in your account from an investment advisor, broker, planner, or insurance...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

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

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

Littler

DOL Fiduciary Rule Still a Go for June 9, but its Future Remains Uncertain

Littler on

United States Department of Labor (“DOL”) Secretary Alexander Acosta recently announced that the final DOL fiduciary regulations (the “Fiduciary Rule”) will go into effect on June 9, 2017. In an op-ed in the Wall Street...more

Burr & Forman

Fiduciary-Rule Litigation Moves to Court of Public Opinion

Burr & Forman on

Last week Labor Secretary Acosta chose a Wall Street Journal op-ed to announce DOL’s decision not to delay the “fiduciary rule” past the once-extended June 9 effective date....more

Dickinson Wright

The Department of Labor Confirms June 9th as the Effective Date of the Fiduciary Rule: What Employers Need to Know Now

Dickinson Wright on

On May 22, 2017, Secretary of Labor Jim Acosta announced that, after having been delayed 60 days, the Department of Labor’s (“DOL”) Conflict of Interest Rule (“Fiduciary Rule”) will largely apply on June 9, 2017. At that...more

Snell & Wilmer

Fiduciary Rule to Go Into Effect but DOL Provides Temporary Non-Enforcement Policy

Snell & Wilmer on

As reported in our April 18th blog, the Department of Labor (“DOL”) officially delayed the applicability of the Fiduciary Rule for 60 days, until June 9, 2017. Given the multiple delays leading up to the proposed June 9th...more

Pillsbury Winthrop Shaw Pittman LLP

Fiduciary Rule Delayed 60 Days - DOL delays application of Fiduciary rule. ERISA plan fiduciaries and service providers struggle...

On April 7, 2017, the Department of Labor (DOL) published a final rule delaying the applicability date of the “Fiduciary” rule and certain “Prohibited Transaction Exemption” rules (the Rules) for 60 days from April 10, 2017...more

Robinson & Cole LLP

DOL Issues Final Rule Delaying Fiduciary Rule until June 9, 2017

Robinson & Cole LLP on

As ordered by President Trump in a presidential memorandum on February 3, 2017, (Memorandum), the U.S. Department of Labor (DOL) proposed a 60-day delay to its conflict of interest rule (commonly referred to as the “fiduciary...more

Seyfarth Shaw LLP

DOL Fiduciary Rule Officially Delayed

Seyfarth Shaw LLP on

On April 4, 2017, the Department of Labor (“DOL”) issued a final rule extending by 60 days the applicability date of the final “fiduciary” regulation published a year ago (known colloquially as the “Fiduciary Rule”)....more

Proskauer - Not for Profit/Exempt...

Update on the Department of Labor’s New Fiduciary Rules and Subsequent Challenges

On April 6, 2016, the Department of Labor under the Obama administration issued a new final rule and exemptions addressing when a person providing investment advice with respect to an employee benefit plan or individual...more

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