The DOL Conflicts of Interest Rule and How it May Affect You (Part 2)

Who is an ERISA Fiduciary?

In the April 2016, Core Compliance & Legal Services, Inc. (“CCLS”) published a Risk Management Update (“RMU”) titled, “The DOL Conflicts of Interest Rule and How it May Affect You (Part 1).”1  That RMU provides guidance on determining fiduciary status under the new Department of Labor Conflicts of Interest rule (the “Rule”)2.

Due to the breadth of the new definition of fiduciary, most Retirement Advisors3 who deal with Retirement Investors4 will fall within the new definition and need to rely on one or more prohibited transaction exemptions (“PTE”) issued by the Department of Labor (“DOL”) to conduct business with Retirement Investors.

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