401khelpcenter.com Logo

COLLECTED WISDOM™ on the DOL's Final Fiduciary Rule on Conflicts of Interest

On April 6, 2016, the Department of Labor (DOL) issued a final rule defining the term fiduciary for investment and brokers providing investment advice to participants and beneficiaries of employee benefit plans governed by ERISA and individual retirement accounts (IRAs). The final rule comes after the proposed rule issued on April 14, 2015 and makes several modifications and clarifications based on numerous comments received from the industry.

This archive contains not only the most current material on the topic, but also older items that are still relevant, provide background, perspective or are germane to the topic.

If you find a broken link or an items that you feel is outdate, irrelevant or no longer appropriate, please let us know.

To subscribe to our free weekly newsletter, enter your email address below then click the "Join" button.

Email Address:

NOTE: WE DO NOT SELL YOUR DATA OR EMAIL ADDRESS TO ANY ORGANIZATION.

    

Other topical areas you may find of interest include Fiduciary Responsibility and Liability Issues and Fiduciary Related News and Intelligence.

Contents

Overview Articles

New Conflict of Interest FAQ

Abstract: This FAQ provides information on (1) a "fiduciary status disclosure" issue under the DOL's ERISA section 408(b)(2) service provider disclosure regulation that applies to ERISA pension plans, (2) whether recommendations to plan participants and IRA owners to contribute to or increase contributions to a plan or IRA constitute fiduciary investment advice under the Fiduciary Rule, and (3) whether recommendations to employers and other plan fiduciaries on plan design changes intended to increase plan participation and contribution rates constitute fiduciary investment advice under the Fiduciary Rule.

Source: Dol.gov, August 2017

DOL's 2016 Fiduciary Rule: Background and Issues

Abstract: This updated 28-page report was prepared by the Congressional Research Service and provides an in-depth background and overview of the DOL's fiduciary rule along with the rationale for the rule and stakeholders perspectives.

Source: Fas.org, July 2017

DOL's Conflict of Interest FAQs (Part II - Rule)

Abstract: Set out here are several FAQs regarding implementation of the conflict of interest final rule. Since the publication of the Rule last April, the DOL has held many meetings with stakeholders to assist in their compliance efforts. Many of the questions they raised related to the various Rule provisions that draw lines between fiduciary and non-fiduciary communications. Like the FAQs the DOL issued in October, these FAQs focus particularly on specific technical questions raised by financial service providers.

Source: Dol.gov, January 2017

Consumer Protections for Retirement Investors - FAQs on Your Rights and Financial Advisers

Abstract: The DOL's recently adopted Conflict of Interest Rule protects retirement investors by requiring advisers to adhere to a fiduciary standard and give advice that is in the investor's best interest. This FAQ provides information about the Rule and related protections so that one can better understand their rights and benefits. At the end of these FAQs is attached a list of questions that a retirement plan investor can ask their financial adviser.

Source: Dol.gov, January 2017

Conflict of Interest Exemptions FAQs Released

Abstract: This DOL FAQ provides additional guidance on application of the exemptions' terms. This guidance, like the Rule and related exemptions, is generally limited to advice concerning investments in IRAs, ERISA-covered plans, and other plans covered by section 4975(e)(1) of the Internal Revenue Code.

Source: Dol.gov, October 2016

Who's a Fiduciary Now? Understanding the DOL's New Definition

Abstract: The sky isn't falling, but in a very real sense the retirement world is changing with the release of the DOL's final regulation that more broadly defines who is an "investment-advice" fiduciary for purposes of ERISA. This is a 14-page review from the law firm Spencer Fane.

Source: Spencerfane.com, May 2016

DOL Issues Final Fiduciary Rule: A Comprehensive Overview

Abstract: The DOL issued a final rule defining the term fiduciary for investment advisers and brokers providing investment advice to participants and beneficiaries of employee benefit plans governed by ERISA and individual retirement accounts. The final rule makes several modifications and clarifications to the proposed rule. In conjunction, the DOL also issued amended versions of prohibited transaction exemptions.

Source: Practicallaw.com, April 2016

An Overview of the Fiduciary Rule

Abstract: Based on Fred Reish's review of the DOL's fiduciary rule and conversations with his clients, here are some of his overview thoughts about the regulation and the two distribution exemptions (84-24 and BICE).

Source: Fredreish.com, April 2016

General Articles and Papers

Extension of Fiduciary Rule Transition Period Likely Official End of November

Abstract: Although the details of the notice are not yet known, the title suggests that the conditions of the named exemptions that are currently scheduled to become applicable on January 1, 2018, will be delayed by 18 months to July 1, 2019, as the DOL had originally proposed in August.

Source: Morganlewis.com, November 2017

Best Practices Arising From the DOL Fiduciary Rule

Abstract: This article examines the manner in which the fiduciary rule, and in particular the BIC Exemption, affect business best practices regardless of whether any changes are made to the fiduciary rule and related exemptions.

Source: Wagnerlawgroup.com, October 2017

The DOL Fiduciary Rule: Don't Misinterpret the Word "Delay"

Abstract: The word "delay" can be misconstrued. Context is everything. An advisor could interpret the delay to mean that the fiduciary rule is not applicable and that they don't have to follow it. But that isn't the case. It's more accurate for financial advisors to think of the DOL's proposal in terms of an extension of the transition period that's already in place.

Source: Columbiathreadneedleus.com, October 2017

BICE and Related Exemptions: Limiting Your Liability Until Full Implementation

Abstract: It is unclear if the DOL will extend its current temporary enforcement policy on the fiduciary duty rule and exemptions during the Transition Period. In this environment, a critical and bottom-line question for financial advisers and financial institutions is, "What do I do during the Transition Period?"

Source: Wagnerlawgroup.com, September 2017

DOL's Fiduciary Rule: Three Issues to Consider if you Advise IRAs

Abstract: Under the DOL's fiduciary rule, advice to rollover assets from 401ks to an account that you advise constitutes fiduciary investment advice. This article reviews three issues advisers should consider as they engage in rollover discussions with prospective clients.

Source: Klgates.com, September 2017

DOL Field Assistance Bulletin No. 2017-02

Abstract: This document announces a temporary enforcement policy related to the DOL's final rule defining who is a fiduciary under ERISA and the Internal Revenue Code, and the related prohibited transaction exemptions, including the Best Interest Contract Exemption, the Class Exemption for Principal Transactions In Certain Assets Between Investment Advice Fiduciaries and Employee Benefit Plans and IRAs, and certain amended prohibited transaction exemptions.

Source: Dol.gov, September 2017

DOL Field Assistance Bulletin No. 2017-03

Abstract: This document announces an enforcement policy related to the limitation of arbitration in the Best Interest Contract Exemption (BIC Exemption) and the Class Exemption for Principal Transactions In Certain Assets Between Investment Advice Fiduciaries and Employee Benefit Plans and IRAs, issued by the dol under ERISA and the Internal Revenue Code.

Source: Dol.gov, September 2017

OMB Approves Proposal for 18-month Delay of DOL Fiduciary Rule

Abstract: The Office of Management and Budget has approved a proposal to delay for 18 months implementation of the remaining provisions in the Labor Department's fiduciary rule. The OMB made its determination on Monday and posted the decision on its website on Tuesday, taking only a fraction of the 90 days that it could have had to review the proposal.

Source: Investmentnews.com (registration may be required), August 2017

DOL Seeks to Delay Fiduciary Rule Until July 2019

Abstract: The Labor Department is seeking to delay implementation of the remaining parts of its fiduciary rule for 18 months. In a brief filed in a Minnesota lawsuit Wednesday, the DOL indicated it had submitted to the Office of Management and Budget a proposal to delay the rule from Jan. 1, 2018, until July 1, 2019. The OMB must review and approve the proposal before it can go into effect.

Source: Investmentnews.com (registration may be required), August 2017

DOL May Be Saying Au Revoir to BIC Exemption's Restrictions on Arbitration

Abstract: On July 3, 2017, in a brief filed before the United States Court of Appeals for the Fifth Circuit, the DOL and DOJ announced that the Government would no longer defend the restrictions on arbitration in the Best Interest Contract Exemption, and opined that the conditions should be vacated and severed from the exemption. The move marks a stunning shift in the DOL's defense of its fiduciary rulemaking, which has been vigorous and marked by a string of litigation victories.

Source: Groom.com, July 2017

Further Delay of Full Applicability of the Fiduciary Rule Would Cost Retirement Savers

Abstract: The Economic Policy Institute estimates that the delays the DOL has already instituted under the new administration mean that retirement savers will lose $7.6 billion over the next 30 years. Each year of further delay will cost retirement savers an additional $7.3 billion dollars over the next 30 years.

Source: Epi.org, July 2017

Fiduciary Rule and Plan Sponsors: What Happens Now?

Abstract: The effect on sponsors of large retirement plans will mostly involve their relationships with service providers. Some defined contribution plan vendors will deliver investment advice to participants in a fiduciary capacity, which requires a fiduciary assessment. In its response brief to the 5th circuit, the DOL made a significant concession for the best interest contract (BIC) exemption.

Source: Towerswatson.com, July 2017

Impact of the DOL Fiduciary Rule on Broker-Dealers

Abstract: The focus of this articl is the prohibited transaction exemptions -- PTE 84-24 and the Best Interest Contract Exemption -- that are available to broker-dealers when their registered representatives recommend annuities to IRA investors. The purpose is to address the factors that firms may want to consider in deciding which exemption to use during the "transition period," currently scheduled to end on December 31, 2017.

Source: Drinkerbiddle.com, July 2017

The Fiduciary Rule: A Fifth Request for Public Comment

Abstract: The DOL has released a request for information seeking public comments yet again on its new fiduciary definition and related exemptions which became applicable on June 9th. This article reviews the topics on which the RFI requests comment.

Source: Eversheds-Sutherland.com, July 2017

DOL Again Seeks Comments on New Fiduciary Rules and Exemptions

Abstract: The DOL requested another round of public comment on its fiduciary rule, this time in the form of a Request for Information. The RFI seeks input on (a) whether to extend the January 1, 2018, applicability date for parts of the rule that are not yet in effect, and (b) changes to make the rule more workable. The RFI expresses an openness to modifying existing exemptions and adopting new ones.

Source: Erisapracticecenter.com, July 2017

DOL Issues Request for Comment on Fiduciary Rule to Guide Review

Abstract: The Labor Department on Thursday evening released a request for comment on the agency's fiduciary rule, seeking input on whether to delay the Jan. 1 full implementation date and soliciting suggestions for streamlining major provisions.

Source: Investmentnews.com (registration may be required), June 2017

The DOL's Fiduciary Rule Is Here, Are You Prepared?

Abstract: As a plan fiduciary, the goal is to deliver a top performing vendor plan to your employees with low fees and great service. How does the DOL's new fiduciary rule impact that goal and what should you do as a result? This short article outlines a few steps to take with respect to the rule.

Source: Pension-consultants.com, June 2017

Fiduciary Rule: June 9 & Beyond

Abstract: This article provides a high level summary intended to help ERISA Plans and service providers to ERISA Plans and/or IRAs better understand some of the Fiduciary Rule's compliance requirements, as well as those of the Best Interest Contract (BIC) Exemption, an exemption that is expected to be relied upon by many financial advisers.

Source: Kilpatricktownsend.com, June 2017

Defining "Reasonable Comp" Under the DOL Rule

Abstract: The best way for financial advisors to think about "reasonable compensation" in the fiduciary sense is to imagine a scatter graph. And the best place to be on that graph is the dot in the middle of the pack of other dots.

Source: Insurancenewsnet.com, June 2017

Compliance With the ERISA Fiduciary Advice Rule

Abstract: The DOL's fiduciary rule affects a broad range of financial services providers who deal with "Protected Investors." This article provides a brief overview of the specific effects of the Rule on investment managers and sponsors of private funds that accept investments from Protected Investors and on investment advisers that provide managed account services to Protected Investors.

Source: Kattenlaw.com, June 2017

Fiduciary Rule's Future Even More Uncertain as SEC Steps In

Abstract: SEC Chairman Jay Clayton in his first policy announcement said the SEC would seek comment on a range of issues related to the DOL's Obama-era rule that aimed to reduce the allegedly conflicted investment advice given to retirement savers. Opponents of the rule may be pleased, but this isn't the first time the head of the SEC has expressed interest in tackling the topic.

Source: Bna.com (registration may be required), June 2017

DOL FAQs Guide Compliance Efforts During Fiduciary Rule Transition Period

Abstract: The Department of Labor has issued guidance in the form of 'Frequently Asked Questions' to help firms and their advisers impacted by the Fiduciary Rule know what is expected on and after June 9, 2017, on and after January 1, 2018, and during the period between.

Source: Benefitsbryancave.com, June 2017

Lawsuits Against the Rule

Thrivent, DOL Both Win in Fiduciary Rule Case

Abstract: Unlikely as it would seem, both Thrivent Financial and the DOL could be considered winners when a U.S. District Court judge on November 3, 2017, granted an injunction against a key aspect of the DOL's investment fiduciary guidance.

Source: Ascensus.com, November 2017

Fifth Circuit Oral Arguments -- A New Hope for Fiduciary Rule Opponents?

Abstract: During oral argument in Chamber of Commerce v. Acosta, Judge Jones not only peppered both parties with questions that appeared to be largely based on the Chamber of Commerce's briefs, but also raised a new argument about why the Fifth Circuit need not defer to the DOL's analysis. Should Judge Jones and at least one of the other members of the panel side with the Chamber of Commerce, the Fiduciary Rule could be vacated.

Source: Groom.com, August 2017

Trial Lawyers Want to Defend Fiduciary Rule in Court

Abstract: Industry groups that support the Labor Department's fiduciary rule came out swinging in new legal briefs, one of which offers to defend in court a key provision of the rule that the DOL is no longer defending.

Source: Bna.com (registration may be required), July 2017

DOL Files Fiduciary Lawsuit Brief Defending Advisory Market Authority

Abstract: The DOL argues it must not lose its broad authority to regulate the workplace retirement planning market, notwithstanding the fact that it may very well decline to aggressively enforce the fiduciary rule under President Trump.

Source: Planadviser.com, July 2017

Fiduciary Litigation: Another One Bites the Dust

Abstract: Plaintiffs seeking to obtain an emergency injunction blocking the DOL's fiduciary regulation were rebuffed again by the U.S. Court of Appeals for the Fifth Circuit. The denial kept the DOL's fiduciary litigation streak unblemished.

Source: Asppa.org, April 2017

Texas Judge Shoots Down Latest Effort to Halt DOL Fiduciary Rule

Abstract: Opponents of the Department of Labor's fiduciary rule were dealt another blow Monday, when Chief Judge Barbara M.G. Lynn of the U.S. District Court for Northern Texas denied the financial trade association plaintiffs' motion for an injunction to stop the regulation.

Source: Investmentnews.com (registration may be required), March 2017

DOL Retains Perfect Record in Fiduciary Rule Challenges

Abstract: The Labor Department's fiduciary rule survived yet another legal challenge when a federal judge in Kansas upheld the rule on its merits after previously refusing to block the rule's enforcement.

Source: Bna.com (registration may be required), February 2017

Kansas Judge Again Upholds DOL Fiduciary Rule

Abstract: Judge Daniel D. Crabtree granted summary judgment to DOL in a lawsuit filed by Market Synergy Group, a Topeka insurance agency that develops fixed index annuities and other proprietary insurance products.

Source: Investmentnews.com (registration may be required), February 2017

Dallas Court Approval Thwarts Trump's Attempt to Block DOL Rule

Abstract: A Dallas federal judge's decision on Wednesday to uphold the Labor Department's fiduciary rule buttresses supporters' efforts to prevent the Trump administration from overturning the rule.

Source: Investmentnews.com (registration may be required), February 2017

D.C. Court of Appeals Denies Emergency Request to Halt Conflict of Interest Rule

Abstract: The U.S. Court of Appeals for the District of Columbia Circuit denied the emergency request from the National Association for Fixed Annuities for an injunction blocking the implementation of the Department of Labor's conflict of interest rule and related exemptions.

Source: Erisapracticecenter.com, December 2016

NAFA Loses Another Round in DOL Fiduciary Fight

Abstract: The D.C. Circuit Court of Appeals on Thursday denied a motion for an emergency injunction of a Labor Department investment advice rule, leaving it in place as the Trump administration comes into office.

Source: Investmentnews.com (registration may be required), December 2016

Labor Department Wins Another Round in Fiduciary Rule Suits

Abstract: The Department of Labor's fiduciary rule withstood another round of judicial scrutiny when a federal judge in Kansas refused to block the rule from being enforced.

Source: Bna.com (registration may be required), November 2016

DOL Fiduciary Rule Won't Be Delayed, Judge Says

Abstract: The Department of Labor's fiduciary rule won't be delayed while a federal appeals court considers a legal challenge to the rule, a federal judge concluded.

Source: Bna.com (registration may be required), November 2016

Fiduciary Rule Survives First Court Challenge - Will Other Courts Follow?

Abstract: A district court in Washington D.C. has just handed the DOL a significant victory in its efforts to derail legal challenges to the fiduciary rule. The decision itself is 92 well-reasoned pages, and contains a clear refutation of the arguments put forth by NAFA in challenging the rule. The court not only refused to enjoin the regulations on an interim basis, but made a final ruling on summary judgement.

Source: Cohenbuckmann.com, November 2016

Federal Court Rejects NAFA Attempt to Kill DOL Fiduciary Rule

Abstract: In a victory for the Department of Labor, a federal judge rejected an attempt by an insurance trade group to strike down its new fiduciary rule for retirement advice. The DOL and Mr. Perez still face five lawsuits from firms and industry trade groups seeking to stop the new fiduciary rule.

Source: Investmentnews.com (registration may be required), November 2016

DOL Scores Win in First Legal Challenge to Fiduciary Rule

Abstract: A federal judge handed the DOL a decisive win in its first legal defense of the fiduciary rule. U.S. District Court Judge Randolph Moss in Washington denied the National Association for Fixed Annuities' request for a preliminary injunction to halt the rule's implementation, scheduled to begin next April.

Source: Financial-Planning.com, November 2016

Update on Lawsuits Challenging the DOL's Fiduciary Rule

Abstract: In this Proskauer Rose LLP update on the litigation challenging the U.S. Department of Labor's new fiduciary rule, they note that there has been a sixth lawsuit filed and oral arguments in two other cases.

Source: Erisapracticecenter.com, October 2016

Thrivent Financial Challenges DOL Fiduciary Rule

Abstract: Thrivent Financial for Lutherans is accusing the DOL of exceeding its statutory authority by attempting, with its new fiduciary rule, to force all disputes into federal court rather than allowing for alternative dispute resolution methods.

Source: Bna.com, September 2016

Judge's Questions Show Inclination to Uphold DOL Fiduciary Rule

Abstract: Federal judge Randolph Moss didn't state his position Thursday regarding how he will rule on a lawsuit against a major Labor Department investment-advice regulation. But his questioning of plaintiffs and defense attorneys during a hearing that lasted more than three hours indicated he is probably leaning toward upholding the regulation and not granting the preliminary injunction being sought by the National Association of Fixed Annuities.

Source: Investmentnews.com (registration may be required), August 2016

DOL Responds to Fiduciary Rule Lawsuit

Abstract: In a reply to complaints brought against it by the National Association for Fixed Annuities, the DOL says it is entitled to summary judgment on all claims, and the court should deny NAFA's motion for summary judgment and a preliminary injunction. Article reviews its several arguments.

Source: Planadviser.com, July 2016

Does DOL Fiduciary Rule Create a New Right to Sue?

Abstract: The lawsuit by a fixed annuity lobbying group challenges the rule on six counts, but the key question is whether the rule creates a new private right of action.

Source: Thinkadvisor.com, July 2016

Litigation Schedule Set for Suits Against DOL Fiduciary Rule

Abstract: Financial industry trade groups and the DOL have agreed to a litigation schedule that could render a decision in October on several lawsuits seeking to stop an investment advice regulation.

Source: Investmentnews.com (registration may be required), June 2016

Two More Groups File Lawsuits Against the DOL Fiduciary Rule

Abstract: The list of lawsuits against the Labor Department got longer as two more industry groups joined three others in taking aim at the fiduciary rule in court. Labor Secretary Thomas Perez has vowed to vigorously defend the rule.

Source: Investmentnews.com (registration may be required), June 2016

Carriers Join Fourth Lawsuit Against DOL Fiduciary Rule

Abstract: The Indexed Annuity Leadership Council filed a fourth lawsuit today against the Department of Labor and Secretary Thomas Perez over its controversial fiduciary rule. It is the first lawsuit featuring carriers as plaintiffs. American Equity Investment Life Insurance is among the four carriers joining IALC in the lawsuit, which was filed in U.S. District Court Northern District of Texas.

Source: Insurancenewsnet.com, June 2016

Business and Trade Groups Bring First Lawsuits Challenging DOL Fiduciary Rule

Abstract: Several groups representing financial institutions, insurance companies, and other businesses filed two federal lawsuits that seek to strike down the DOL’s recently finalized fiduciary rule. As described here, the plaintiffs are alleging that the DOL did not have the regulatory authority to issue the fiduciary rule and related exemptions, and that DOL did not follow the requirements of the Administrative Procedure Act.

Source: Groom.com, June 2016

Lawsuit Against DOL Fiduciary Rule Seen as 'Weak'

Abstract: Opponents have finally filed an anticipated lawsuit challenging the Labor Department's rule to raise investment advice standards for retirement accounts, but some observers say arguments levied against the regulation are flimsy and exaggerated. Knowledgeable sources say the DOL has the authority to write rules governing who is and isn't a fiduciary in both the ERISA-plan world and IRA market.

Source: Investmentnews.com (registration may be required), June 2016

Labor Secretary Perez Defends Fiduciary Rule

Abstract: U.S. Secretary of Labor Thomas E. Perez today issued this statement regarding a lawsuit filed to stop the DOL's recently released fiduciary rule.

Source: 401khelpcenter.com, June 2016

Lawsuit Challenges DOL's Fiduciary Rule

Abstract: Retirement industry trade groups filed on June 1st a legal challenge to the Department of Labor's fiduciary rule for brokers and registered investment advisers serving Americans with Individual Retirement Accounts and 401k plans.

Source: 401khelpcenter.com, June 2016

Trump and the Fiduciary Rule

Fiduciary Rule Kill Bill Clears Hurdle

Abstract: The House Financial Services Committee gave its stamp of approval to the latest attempt to block the Department of Labor's fiduciary rule. The committee passed the Protecting Advice for Small Savers (PASS) Act Of 2017, moving it a step closer to a full vote.

Source: 401kspecialistmag.com, October 2017

Bill Would Repeal Fiduciary Rule, Part of Dodd-Frank

Abstract: A bill repealing some of the major provisions of Dodd-Frank and the DOL's fiduciary rule will move to the House floor for a vote this week, something that did not happen in previous sessions for similar legislation. That said, even if the House passes it, its chances in the Senate are bleak.

Source: Asppa.org, June 2017

Acosta Looking to Freeze DOL Fiduciary Regulation

Abstract: Labor Secretary Alexander Acosta says the Department of Labor's fiduciary rule is his number one priority, and that he is actively seeking a way to freeze the rule that will "stick."

Source: Asppa.org, May 2017

DOL Bucking Trump on Fiduciary Rule? Former Officials Say No

Abstract: Critics of the Department of Labor's fiduciary rule claim that by letting some portions of the rule take effect in June, the department is standing in the way of President Donald Trump's directive to review the rule. But former DOL officials interviewed by Bloomberg BNA say these accusations are greatly exaggerated and ignore how the agency and rulemaking works.

Source: Bna.com (registration may be required), May 2017

Preliminary Analysis of Trump Memorandum on the DOL Fiduciary Rule

Abstract: Finding No. (i) would be subjective and require the DOL to determine the regulation causes "harm." Finding No. (ii) would similarly be subjective and require it to conclude that the regulation "adversely" affects investors or retirees. Finding No. (iii), however, is objectively a slam dunk. There is no question that if there are millions of written BICE agreements in circulation, it will necessarily increase the number of potential breach of contract claims filed by investors, particularly after a significant market correction.

Source: Linkedin.com, February 2017

Text of the Presidential Memorandum on Fiduciary Rule

Abstract: This is the text of the Presidential Memorandum on Fiduciary Duty Rule issued by President Thump on Friday, February 03, 2017.

Source: Whitehouse.gov, February 2017

Final Trump Memo Lacks Explicit Directive to Delay DOL Fiduciary Rule

Abstract: The final version of a memo sent by President Donald Trump on Friday to the Department of Labor directs the agency to review a sweeping investment-advice rule but does not contain an explicit delay of the April 10 implementation date.

Source: Investmentnews.com (registration may be required), February 2017

What You Need to Know About Trump's Plan to Halt DOL Fiduciary Rule

Abstract: The DOL is being directed to examine the fiduciary duty rule to determine whether it may adversely affect the ability of Americans to gain access to retirement information and financial advice. As part of this examination, the DOL is expected to prepare an updated economic and legal analysis concerning the likely impact of the rule.

Source: Investmentnews.com (registration may be required), February 2017

Trump Administration and the State of the DOL Fiduciary Rule

Abstract: This brief represents the current understanding of the new administration's plan, but there are a couple of key steps that have yet to be fully explained. Nevertheless, it provides the latest information at this time.

Source: Linkedin.com, January 2017

Delay Seems Likely, But Confusion Remains on DOL Fiduciary Rule Future

Abstract: Conflicting media reports have started to circulate, some to the effect that a delay of the DOL fiduciary rule has already been effectuated, but others are skeptical that this is even possible.

Source: Planadviser.com, January 2017

DOL Fiduciary Rule Will Be Undone in a Cruel Twist

Abstract: Perhaps the biggest legislative effort since 1940 to put client interests ahead of Wall Street will be allowed to effectively die in a Texas court at the hands of what was once deemed to be a two-bit lawsuit, according to Jason Roberts, CEO of the Pension Resource Institute in Los Angeles.

Source: Riabiz.com, January 2017

Gauging the Future of the DOL Fiduciary Rule in the Trump Era

Abstract: With the presidential election victory of Donald Trump and the success of Republicans in holding majorities in both the House of Representatives and the Senate, the immediate future of the Department of Labor's fiduciary rule has been cast into some doubt. A recent analysis explores what its prospects may be.

Source: Asppa.org, January 2017

Congressman Introduces Bill Delaying DOL Fiduciary Rule

Abstract: South Carolina Rep. Joe Wilson introduced a bill today that would provide for a 2-year delay in the effective date of the Department of Labor rule relating to the definition of the term fiduciary.

Source: Joewilson.house.gov, January 2017

Webinars on the Topic

A Closer Look at the Final Fiduciary Rule

Abstract: Vanguard's Stephanie Napier and Frank Nessel discuss how the DOL final rule expanding the definition of a fiduciary will affect retirement plans. Offer candid views on: Why the DOL expanded the definition of a fiduciary, how the final rule differs from earlier DOL proposals, and how the final rule impacts plan sponsors and participants.

Source: Vanguard.com, June 2016

The DOL's New Fiduciary Rule

Abstract: This is a detailed and extensive look at the DOL's new fiduciary rule by Marcia Wagner of the Wagner Law Group. It is approximately one hour and 25 minutes in length.

Source: Youtube.com, April 2016

Law Experts Take an In-Depth Look at the DOL's Fiduciary Rule

Abstract: Alexander Ryan and David Olstein, of the Groom Law Group, take an in-depth look at the DOL's new fiduciary regulation and its impact on retirement investors and financial institutions in this 23 minute video.

Source: Cammackretirement.com, May 2016

Dissecting the Department of Labor's Final Fiduciary Rule

Abstract: This 26-minute audio conference on the DOL's final rule to re-define who is rendered a "fiduciary" of an employee benefit plan under ERISA. Reviews changes made in the final rule and what it means for your business and retirement plans.

Source: Littler.com, May 2016


401khelpcenter.com, LLC is not the author of the material referenced in this digest unless specifically noted. The material referenced was created, published, maintained, or otherwise posted by institutions or organizations independent of 401khelpcenter.com, LLC. 401khelpcenter.com, LLC does not endorse, approve, certify, or control this material and does not guarantee or assume responsibility for the accuracy, completeness, efficacy, or timeliness of the material. Use of any information obtained from this material is voluntary, and reliance on it should only be undertaken after an independent review of its accuracy, completeness, efficacy, and timeliness. Reference to any specific commercial product, process, or service by trade name, trademark, service mark, manufacturer, or otherwise does not constitute or imply endorsement, recommendation, or favoring by 401khelpcenter.com, LLC.


Press Center | Glossary | Privacy Policy | Terms of Use | Contact Us

Creative Commons License
This work is licensed under a Creative Commons Attribution-NoDerivatives 4.0 International License.