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Best Interest Standard of Care for Advisors #39 | Faegre Drinker Biddle & Reath LLP

To embed, copy and paste the code into your website or blog: Investment Adviser Considerations: The Department of Labor’s Prohibited Transaction Exemption and Its Impact on Recommendations to Plans, Participants and IRAs (Part 4 ) On December 18, 2020, the DOL issued its final prohibited transaction exemption (PTE) that will allow conflicted compensation resulting from nondiscretionary fiduciary investment advice. The PTE is titled “Improving Investment Advice for Workers & Retirees.” The citation is Prohibited Transaction Exemption 2020-02. (https://www.govinfo.gov/content/pkg/FR-2019-07-12/pdf/2019-12208.pdf) The exemption became effective on February 16, 2021. The exemption and the associated expansion of the definition of fiduciary advice will have the greatest impact on recommendations by investment advisers and broker-dealers (1) to retirement plan participants to take rollovers to IRAs with the advisors, and (2) to IRA owners about how to invest in their IRAs. My las

Investment Adviser Considerations: The Department of Labor s Prohibited Transaction Exemption

Wednesday, February 17, 2021 Investment Adviser Considerations: The Department of Labor’s Prohibited Transaction Exemption and Its Impact on Recommendations to Plans, Participants and IRAs (Part 4 ) On December 18, 2020, the DOL issued its final prohibited transaction exemption (PTE) that will allow conflicted compensation resulting from nondiscretionary fiduciary investment advice. The PTE is titled “Improving Investment Advice for Workers & Retirees.” The citation is Prohibited Transaction Exemption 2020-02. (https://www.govinfo.gov/content/pkg/FR-2019-07-12/pdf/2019-12208.pdf) The exemption became effective on February 16, 2021. The exemption and the associated expansion of the definition of fiduciary advice will have the greatest impact on recommendations by investment advisers and broker-dealers (1) to retirement plan participants to take rollovers to IRAs with the advisors, and (2) to IRA owners about how to invest in their IRAs. My last article, 

Employee Benefits Developments - January 2021 | Hodgson Russ LLP

To embed, copy and paste the code into your website or blog: The Employee Benefits Practice is pleased to present the Employee Benefits Developments Newsletter for the month of January 2021.   U.S. Department of Labor Issues Final Prohibited Transaction Exemption Regarding Compensation for Fiduciary Investment Advisers of Retirement Plans and IRAs Consolidated Appropriations Act, 2021 (CAA): Retirement Plan Relief DOL Issues Proxy Voting Regulations for Plan Fiduciaries Retirement Plan Elections/Consents: IRS Extends Temporary Relief From the Physical Presence Requirement for Participant Elections/Consents Witnessed by a Notary Public or Plan Representative Court Dismisses COBRA Lawsuit   U.S. Department of Labor Issues Final Prohibited Transaction Exemption Regarding Compensation for Fiduciary Investment Advisers of Retirement Plans and IRAs

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