31 changes to prohibited transaction exemptions under DOL proposal
December 1, 2023 by Tobias Salinger
The Labor Department’s new potential “retirement security rule” carries significant changes to existing guidelines known as prohibited transaction exemptions for fiduciary investment advice.
While the main part of the rulemaking package would alter the definition of “fiduciary” under the Employee Retirement Income Security Act, three other potential amendments included in the proposal would enforce new requirements for disclosures and apply “best interest” standards to more types of transactions.
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Originally Posted at Financial Planning on November 22, 2023 by Tobias Salinger.
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