The New Fiduciary Rule (33): The DOL’s Final PTE 84-24
Key Takeaways The DOL’s fiduciary regulation will be effective on September 23 of this year. As a result, beginning on September 23, one-time recommendations to retirement investors can be fiduciary advice and, where the advice is conflicted, the investment professional and financial institution will need the protection afforded by a PTE. While some of the […]
The New Fiduciary Rule (17): Permissible Compensation under PTE 84-24
The U.S. Department of Labor has released its package of proposed changes to the regulation defining fiduciary advice and to the exemptions for conflicts and compensation for investment recommendations to retirement plans, participants (including rollovers), and IRAs. Key Takeaways ERISA’s fiduciary and prohibited transaction rules require consideration of costs and compensation when fiduciary recommendations are […]