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Retirement Plan Fiduciary Rule

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

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Trump won, now what?

Yogi Berra said it best, “It’s like déjà vu all over again.” We have a new fiduciary rule and an unexpected Trump victory (I expected it)....more

Carlton Fields

Practical Thoughts for Sponsors About Current ERISA Forfeiture Litigation

Carlton Fields on

A notable trend in ERISA litigation has emerged as in-house attorneys look to mitigate the risks of coming waves of class action litigation. Beginning in late 2023, there have been several challenges to the use of forfeiture...more

Carlton Fields

Changes for Producer Award Trips at IMOs? Fiduciary Rule Suggests Turbulence Ahead

Carlton Fields on

In April 2024, the U.S. Department of Labor issued its long-awaited retirement security rule, also known as the fiduciary rule, broadening the definition of who is an “investment advice fiduciary” under the Employee...more

Faegre Drinker Biddle & Reath LLP

The New Fiduciary Rule (49): Recommendations to Transfer IRAs (NAIC)

The stay of the effective dates of the amended fiduciary regulation and amended exemptions means that the “old” DOL fiduciary regulation (the 5-part test) and the existing exemptions continue in effect indefinitely....more

Faegre Drinker Biddle & Reath LLP

The New Fiduciary Rule (48): Recommendations to Transfer IRAs (DOL)

The stay of the effective dates of the amended fiduciary regulation and amended exemptions means that the “old” DOL fiduciary regulation (the 5-part test) and the existing exemptions continue in effect indefinitely....more

Faegre Drinker Biddle & Reath LLP

Rollover Recommendations: PTE 2020-02 Compliance Considerations Following the DOL Fiduciary Rule Stay

The effective date of the DOL’s new expansive fiduciary rule and the amendments to Prohibited Transaction Exemption (PTE) 2020-02 has been stayed pending the outcome of the lawsuits challenging the rule and the amended PTE....more

Faegre Drinker Biddle & Reath LLP

The New Fiduciary Rule (47): Recommendations to Transfer IRAs (SEC)

The stay of the effective dates of the amended fiduciary regulation and amended exemptions means that the “old” DOL fiduciary regulation (the 5-part test) and the existing exemptions continue in effect indefinitely. As a...more

Faegre Drinker Biddle & Reath LLP

The New Fiduciary Rule (46): The Regulation and Exemptions are Stayed—What Remains? (6)

The stay of the effective dates of the amended fiduciary regulation and amended exemptions means that the “old” DOL fiduciary regulation (the 5-part test) and the existing exemptions continue in effect indefinitely. As a...more

Vedder Price

Two Federal District Courts Stay DOL Fiduciary Rule

Vedder Price on

On July 25, 2024, the U.S. District Court for the Eastern District of Texas stayed the U.S. Department of Labor’s (DOL) recently-issued final rule, set to take effect September 23, 2024, which would amend the definition of an...more

Faegre Drinker Biddle & Reath LLP

The New Fiduciary Rule (45): The Regulation and Exemptions are Stayed (5)—What Remains?

The stay of the effective dates of the amended fiduciary regulation and amended exemptions means that the “old” fiduciary regulation (the 5-part test) and the amended exemptions continue in effect indefinitely. As a result,...more

K&L Gates LLP

DOL's Fiduciary Rule: The Latest Developments

K&L Gates LLP on

In July, two Federal District Courts in Texas issued orders staying the effective date of the Department of Labor’s (DOL) fiduciary rule (Fiduciary Rule)....more

Faegre Drinker Biddle & Reath LLP

The New Fiduciary Rule (43): The Regulation and Exemptions are Stayed (3)—What Remains?

The DOL’s fiduciary regulation was scheduled to become effective this September 23. The exemptions were scheduled to become partially effective this September 23 and fully effective September 23, 2025....more

Carlton Fields

DOL Fiduciary Rule Saga Continues: 2024 Fiduciary Rule Halted by Texas District Courts

Carlton Fields on

The Federation of Americans for Consumer Choice v. Department of Labor case was the first case challenging the Department of Labor’s 2024 retirement security rule defining who is an investment advice fiduciary. It was...more

Troutman Pepper Locke

Back to 1975: New Delays to the DOL’s Investment Fiduciary Advice Rule

Troutman Pepper Locke on

Two Texas federal court decisions have stalled the U.S. Department of Labor’s (“DOL”) “investment advice fiduciary rule” under Section 3(21) of the Employee Income Security Act of 1974, as amended (the “Fiduciary Rule”) from...more

Faegre Drinker Biddle & Reath LLP

New DOL Fiduciary Rule Stayed: What Advisors and Insurance Agents Recommending Rollovers Should Do Now

Two recent Texas court decisions stayed the fast-approaching September 23, 2024, effective date of the DOL’s new fiduciary rule (including both the new regulation re-defining “fiduciary” investment advice and the related...more

Lowenstein Sandler LLP

The ERISA Fiduciary Rule – Courts Say the U.S. Department of Labor’s 'Final Rule' Isn’t Final After All

The U.S. Department of Labor’s (DOL) latest attempt to redefine who/what a fiduciary is for purposes of the Employee Retirement Income Security Act of 1974, as amended (ERISA), has been stayed by two U.S. district courts on...more

Lathrop GPM

Retirement Security Fiduciary Rule Stayed

Lathrop GPM on

Under recently finalized federal regulations (commonly referred to as the “Fiduciary Rule”) that were scheduled to become effective on September 23, 2024, the U.S. Department of Labor intended to expand the fiduciary...more

Warner Norcross + Judd

Here We Go Again! Fiduciary Rule Effective Date Delayed

Two U.S. District Courts in Texas issued stays on July 25, 2024, and July 26, 2024, respectively, delaying indefinitely the effective date of the final fiduciary regulations and related prohibited transaction exemptions...more

Faegre Drinker Biddle & Reath LLP

The New Fiduciary Rule (42):The Regulation and Exemptions are Stayed (2)—What Remains?

The DOL’s fiduciary regulation was scheduled to become effective this September 23. The exemptions were scheduled to become partially effective this September 23 and fully effective September 23, 2025....more

Faegre Drinker Biddle & Reath LLP

The New Fiduciary Rule (41):The Regulation and Exemptions are Stayed

The DOL’s fiduciary regulation was scheduled to become effective this September 23. The exemptions were scheduled to become partially effective this September 23 and fully effective September 23, 2025....more

Nossaman LLP

Relying on Loper, Fifth Circuit Sends Chevron-based decision Back to District Court, calling ESG Rule into Question

Nossaman LLP on

On July 18, the U.S. Court of Appeals for the Fifth Circuit (“Fifth Circuit”) vacated a decision by the U.S. District Court for the Northern District of Texas (“District Court”) that upheld the U.S. Department of Labor’s...more

Faegre Drinker Biddle & Reath LLP

The New Fiduciary Rule (40): Rollovers and the Insurance License Issue

The Department of Labor’s final regulation defining fiduciary status for investment advice to retirement investors will be effective this September 23. Where a fiduciary recommendation results in additional compensation for...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

The rollover issue

I think I learned in American politics that first semester in Stony Brook that if men were angels, there would be no need for government. If people did the right thing, there would be no need for government regulation....more

Faegre Drinker Biddle & Reath LLP

The New Fiduciary Rule (38):The Fiduciary Acknowledgment

The Department of Labor has issued its final regulation defining fiduciary status for investment advice to retirement investors and the related exemptions for prohibited conflicts—PTEs 2020-02 and 84-24. The exemptions...more

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