Rollovers, Regulation, Litigation: Where Are We and What’s Next?
Key Takeaways The recent decisions on the DOL’s interpretation of fiduciary status are significant but limited in scope. Fiduciary status for plan-to-IRA rollover recommendations, standing alone, has been vacated. But other important transactions, such as IRA transfers, have not. Also, where an advisor is a fiduciary to a plan or participant, and then recommends a […]
The DOL’s Fiduciary Interpretation and the Florida Court Decision
In 2020, the Department of Labor (DOL) issued its Prohibited Transaction Exemption (PTE) 2020-02 to provide an exemption to most prohibited transactions resulting from nondiscretionary fiduciary advice to retirement plans governed by either ERISA or the Internal Revenue Code, or both, as well as nondiscretionary fiduciary advice to IRAs. The DOL’s Fiduciary Interpretation and Prohibited […]
Best Interest Standard of Care for Advisors #58
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 #57
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 […]