Today, the U.S. Department of Labor released its highly-anticipated Final Rule and Exemptions addressing when a person providing investment advice with respect to an employee benefit plan or individual retirement account is considered to be a fiduciary under the Employee Retirement Income Security Act of 1974 and the Internal Revenue Code. The new rule is expected to have significant consequences for broker-dealers and other financial professionals working with retirement accounts.
Click here to read the full post on Proskauer's ERISA Practice Center Blog.
U.S. DOL Issues Final Rule Defining Fiduciary Investment Advice
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