Registered broker/dealers (B/Ds) and investment advisers have long been required to comply with a “best execution” standard when making trades for their clients. That obligation is now one of the conditions a financial institution and financial professional must meet to take advantage of the Department of Labor (DOL)’s Prohibited Transaction Exemption (PTE) 2020-02. The failure to meet the standard will result in the loss of exemptive relief. Therefore, firms should be looking at their current best execution policies and procedures and how those should be coordinated with their PTE 2020-02 compliance efforts.

In the PLANADVISER article, “Best Execution Standard,” Groom principal David Kaleda outlines considerations for plan advisers when relying on and/or applying PTE 2020-02.

To read the article, click here.


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