- UPDATE: On April 23, 2024, the U.S. Department of Labor issued a final regulatory package amending its fiduciary investment advice regulation and revising numerous existing prohibited transaction exemptions used by investment advice fiduciaries. Find our deep dive into the final package at the links below.
On November 3, 2023, the U.S. Department of Labor (“DOL”) published a new set of regulatory proposals in its long-running effort to expand the circumstances under which a person will be considered an investment advice fiduciary for purposes of ERISA and the parallel provisions of the Internal Revenue Code, and to change the landscape of prohibited transaction exemptions available to those fiduciaries. We have prepared detailed materials describing the proposals below.
