DOL Fiduciary Rule Resource Library

In the Past:

The Department of Labor was expected to release its revised best interest rules sometime in 2019. The DOL's latest effort to regulate the financial services industry will likely mirror the SEC's Reg BI, which was approved in June 2019. The 5th Circuit Court of Appeals’ Order vacated the Department of Labor’s original fiduciary rule in June of 2018.

In Recent News:

The temporary non-enforcement policy of the DOL/IRS remains in effect through December 20, 2021 (one year from when the final version of this new regulation was published). This is intended to allow financial institutions/investment professionals who are developing procedures for implementation of the new exemption some time to get things in order.

Articles to Keep You Informed:

Investment Advice Rule Could Still End Up Back In Court  - InsuranceNewsNet

The Department of Labor has settled on an investment advice rule that was written by the Trump administration and allowed to take effect by the Biden administration -- so the rules should finally be clear, right?

How Do DOL Rules Impact Insurance Producers? - InsuranceNewsNet

To the surprise of many, the Department of Labor allowed the previous administration’s final fiduciary advice regulation, officially titled Prohibited Transaction Exemption 2020-02, to go into effect on Feb. 16. The focus of PTE 2020-02 is on broker-dealers and registered investment advisors, but how does this turn of events impact insurance producers?

Rollovers Are the Fiduciary Advice Under New DOL Rule - ThinkAdvisor

Fred Reish, partner at Faegre Drinker in Los Angeles, added on the webcast that “most investment advisors who recommend that a participant take a distribution and roll over with them are going to satisfy” the conditions of Labor’s exemption regarding compensation. “Unless there’s some reason you won’t, I think you have to start off thinking you will and you’re going to have to satisfy the conditions of the exemption.”

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