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Labor Department finalizes investment-advice exemption Bloomberg The Department of Labor on Tuesday finalized a prohibited transaction exemption permitting investment-advice fiduciaries to receive compensation for more types of their guidance, including advice to roll over assets from a retirement plan to an individual retirement account. The exemption will go into effect 60 days after publication in the Federal Register and after the Biden administration takes office Jan. 20. The new administration can halt and review any rule-making effort that is not in effect, meaning that the exemption has an uncertain fate. The Employee Retirement Income Security Act of 1974 currently prohibits investment advice fiduciaries from self-dealing, or taking actions that would provide additional compensation from transactions for themselves, their affiliates or related entities involving plans and individual retirement accounts.

Jeanne klinefelter wilsonExchange commissionDepartment of labor onLabor for the employee benefits security administrationLabor departmentFederal registerEmployee retirement income security actEmployee benefits security administrationஜீன் கிளிநேபெல்டேர் வில்சன்பரிமாற்றம் தரகுதுறை ஆஃப் தொழிலாளர் ஆன்தொழிலாளர் துறைகூட்டாட்சியின் பதிவுஊழியர் ஓய்வு வருமானம் பாதுகாப்பு நாடகம்