Posts tagged Fiduciary
SEC Best Interest Standard Is Major Departure From DOL Fiduciary Guidance

The Securities and Exchange Commission (SEC) issued proposed guidance for broker-dealers and registered investment advisors who make recommendations to retail clients. Now that the DOL conflict-of-interest (fiduciary) regulations are vacated, this SEC guidance remains the standard for broker-dealers who make investment recommendations.

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How the New DOL Fiduciary Rule Applies to IRAs and HSAs

The financial industry has been hearing about the Department of Labor fiduciary (conflict-of-interest) rule for several years. These rules apply to IRAs, HSAs, and Coverdell ESAs, as well as employer-sponsored retirement plans. While some aspects will not apply until mid-2019, financial organizations should fully evaluate how the rules affect their products and services.

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DOL Extends Transition Period for Key Fiduciary Rule Requirements to Mid-2019

The applicability date of several key elements of the Department of Labor (DOL) investment fiduciary guidance has been extended from January 1, 2018, to July 1, 2019. The additional 18-month transition period specifically applies to the controversial Best Interest Contract (BIC) exemption, to the “principal transactions” exemption for asset transactions between investment fiduciaries and employee benefit plans (including IRAs), and to certain proposed restrictions on annuities offered as retirement investments.

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