Best Interest Standard of Care for Advisors #82: Compliance with PTE 2020-02: Correction of Violations of PTE 2020-02
The Department of Labor’s “Fiduciary Rule,” PTE 2020-02: The FAQs This series focuses on the DOL’s new fiduciary “rule”, which was effective on February 16. This, and the next several, articles look at the Frequently Asked Questions (FAQs) issued by the DOL to explain the fiduciary definition and the exemption for conflicts of interest. Key […]
Best Interest Standard of Care for Advisors #81: Compliance with PTE 2020-02: Annual Retrospective Review
The Department of Labor’s “Fiduciary Rule,” PTE 2020-02: The FAQs This series focuses on the DOL’s new fiduciary “rule”, which was effective on February 16. This, and the next several, articles look at the Frequently Asked Questions (FAQs) issued by the DOL to explain the fiduciary definition and the exemption for conflicts of interest. Key […]
Best Interest Standard of Care for Advisors #80: Compliance with PTE 2020-02: Insurance Distribution Issues (Part 2)
The Department of Labor’s “Fiduciary Rule,” PTE 2020-02: The FAQs Key Takeaways The DOL has issued FAQs that generally explain PTE 2020-02 and the expanded definition of fiduciary advice. In FAQ 18, the DOL discusses the application of the requirements to the distribution of insurance products and the impact on insurance companies. However, many insurance […]
Best Interest Standard of Care for Advisors #79: Compliance with PTE 2020-02: Insurance Distribution Issues (Part 1)
The Department of Labor’s “Fiduciary Rule,” PTE 2020-02: The FAQs Key Takeaways The DOL has issued FAQs that generally explain PTE 2020-02 and the expanded definition of fiduciary advice. In FAQ 18, the DOL discusses the application of the requirements to the distribution of insurance products and the impact on insurance companies. However, many insurance […]
Best Interest Standard of Care for Advisors #78: Compliance with PTE 2020-02: Mitigation of Incentive Effects of Payout Grids (Part 2)
The Department of Labor’s “Fiduciary Rule,” PTE 2020-02: The FAQs Key Takeaways The DOL has issued FAQs that generally explain PTE 2020-02 and the expanded definition of fiduciary advice. In FAQ 17, the DOL discusses both the implications of payout grids and mitigation techniques to minimize compliance risks. The general mitigation requirement is that financial […]
Best Interest Standard of Care for Advisors #77: Compliance with PTE 2020-02: Mitigation of Incentive Effects of Payout Grids (Part 1)
The Department of Labor’s “Fiduciary Rule,” PTE 2020-02: The FAQs This series focuses on the DOL’s new fiduciary “rule”. This, and the next several, articles look at the Frequently Asked Questions (FAQs) issued by the DOL to explain the fiduciary definition and the exemption for conflicts of interest. Key Takeaways The DOL has issued FAQs […]
Best Interest Standard of Care for Advisors #76: Compliance with PTE 2020-02: Mitigation of Conflicts (Part 3)
The Department of Labor’s “Fiduciary Rule,” PTE 2020-02: The FAQs This series focuses on the DOL’s new fiduciary “rule”, which was effective on February 16. This, and the next several, articles look at the Frequently Asked Questions (FAQs) issued by the DOL to explain the fiduciary definition and the exemption for conflicts of interest. Key […]
Best Interest Standard of Care for Advisors #75: Compliance with PTE 2020-02: Mitigation of Conflicts (Part 2)
The Department of Labor’s “Fiduciary Rule,” PTE 2020-02: The FAQs Key Takeaways The DOL has issued FAQs that generally explain PTE 2020-02 and the expanded definition of fiduciary advice. In FAQ 16, the DOL discusses the requirements to have policies and procedures to mitigate conflicts of interest. The mitigation requirement applies to conflicts both at […]
Best Interest Standard of Care for Advisors #74: Compliance with PTE 2020-02: Mitigation of Conflicts (Part 1)
The Department of Labor’s “Fiduciary Rule,” PTE 2020-02: The FAQs Key Takeaways The DOL has issued FAQs that generally explain PTE 2020-02 and the expanded definition of fiduciary advice. In FAQ 16, the DOL discusses the requirements to have policies and procedures to mitigate conflicts of interest. The mitigation requirement applies to both conflicts at […]
Best Interest Standard of Care for Advisors #73: Compliance with PTE 2020-02: IRA “Rollovers” Are Covered by the Rule, But What is an IRA?
This series focuses on the DOL’s new fiduciary “rule”, which was effective on February 16. This, and the next several, articles look at the Frequently Asked Questions (FAQs) issued by the DOL to explain the fiduciary definition and the exemption for conflicts of interest. Key Takeaways The DOL’s PTE 2020-02 and the expanded definition of […]