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DOL (Department of Labor) compliance ruling

Question asked by eduardovonborstel Employee on Dec 6, 2016

Has anyone started to think about how plan/adjust or deploy any initiatives related to the new DOL (Department of Labor) ruling effective April 10, 2017, whereby either avoid payments that create conflicts of interest or comply with the protective terms of an exemption?


The final ruling defines who is a fiduciary investment adviser, while accompanying prohibited transaction class exemptions allow certain broker-dealers, insurance agents and others that act as investment advice fiduciaries to continue to receive a variety of common forms of compensation as long as they are willing to adhere to standards aimed at ensuring that their advice is impartial and in the best interest of their customer.The rulemaking package also includes a regulatory impact analysis which demonstrates the monetary harm caused to retirement investors from conflicted advice and the gains that will result from the rule.