The DOL Conflicts of Interest Rule and How it May Affect You (Part 1)

The final adopting release of the Department of Labor’s (“DOL”) Conflicts of Interest rule (the “Rule”),1 along with the separate releases of two new and four amended prohibited transaction exemptions (“PTE”) are now published in the Federal Register as of April 8, 2016. The main crux revolves around changes to the definition of the term “fiduciary” under the Employee Retirement Security Act of 1974 (“ERISA”).

The determination of fiduciary status can be complex depending on facts and circumstances, so Core Compliance has created this flow chart to assist financial firms in maneuvering the new tenants of the Rule pertaining to fiduciary status.

To read more click here.

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