Fiduciary Issues

Industry & Regulatory News

Washington Pulse: DOL Releases Final Investment Advice Fiduciary Rule

The Department of Labor (DOL) recently released a regulatory package that includes a final amendment (the Retirement Security Rule) to the regulations that define what constitutes an investment advice fiduciary under the Employee Retirement Income Security Act of 1974 (ERISA) Title I and Title II (codified in the Internal Revenue Code).

May 22 2024

Industry & Regulatory News

SEC Releases Cybersecurity Final Rule

The Securities and Exchange Commission (SEC) has issued a final rule to address cybersecurity risks.

May 17 2024

Industry & Regulatory News

CIP Requirements for Registered Investment Advisers Proposed

The Financial Crimes Enforcement Network (FinCEN), Securities and Exchange Commission (SEC), and Department of Treasury have jointly issued a proposed rule titled Customer Identification Programs for Registered Investment Advisers and Exempt Reporting Advisers.

May 14 2024

Industry & Regulatory News

ERISA Insights: DOL Releases Final Fiduciary Rule for Investment Advisers

The Department of Labor (DOL) has released a final rule updating the definition of an investment advice fiduciary under ERISA.

April 23 2024

Industry & Regulatory News

DOL Releases Proposed Retirement Savings Lost and Found Information Collection

The Department of Labor (DOL) is proposing to collect information in order to establish the Retirement Savings Lost and Found online searchable database described in Section 523 of ERISA as amended by Section 303 of SECURE 2.0.

April 15 2024

Industry & Regulatory News

DOL Releases Final Rule on QPAM Exemptions

The Department of Labor has issued a final rule “Amendment to Prohibited Transaction Class Exemption 84-14 (PTE 84-14) for Transactions Determined by Independent Qualified Professional Asset Managers (the QPAM Exemption)”.

April 03 2024

Industry & Regulatory News

DOL Final Rule on QPAM Exemptions Has Left OMB

A final rule titled, “Proposed Amendment to PTE 84-14 for Plan Asset Transactions Determined by an Independent Qualified Plan Asset Manager,” (QPAM) has left the Office of Management and Budget—suggesting that official release may come soon.

March 18 2024

Industry & Regulatory News

PBGC Updates Interest Assumptions for Valuing Benefits for Second Quarter 2024

The Pension Benefit Guarantee Corporation (PBGC) has issued a final rule updating interest assumptions under the asset allocation regulation for plans with valuation dates in the second quarter of 2024.

March 13 2024

Industry & Regulatory News

DOL Sends Final Fiduciary Rule to OMB

The Department of Labor has sent a final fiduciary rule titled “Retirement Security Rule: Definition of an Investment Advice Fiduciary” to the Office of Management and Budget (OMB). Text of the final rule is not available until after OMB completes their review. A proposed rule released last fall would expand the definition of investment advice fiduciary under ERISA and would make amendments to prohibited transaction exemptions regarding eligibility and conditions for exemption. A 60-day comment period on the proposal ended January 2, 2024.

March 11 2024

Industry & Regulatory News

DOL Final Rule on QPAM Exemptions at OMB

The Office of Management and Budget has received a final rule from the Department of Labor (DOL) titled “Proposed Amendment to PTE 84-14 for Plan Asset Transactions Determined by an Independent Qualified Plan Asset Manager”.

November 15 2023