Today, the US Department of Labor released the final fiduciary duty rule. The DOL has posted the rule text and the text of the exemptions on its site. Here are links directly to the text of the rules and exemptions:
Amendment to and Partial Revocation
of Prohibited Transaction Exemption 84-24 for Certain Transactions
Involving Insurance Agents and Brokers, Pension Consultants,
Insurance Companies, and Investment Company Principal
Underwriters
https://goo.gl/A7ktqh
Amendment to Prohibited Transaction
Exemption 75-1, Part V, Exemptions From Prohibitions Respecting
Certain Classes of Transactions Involving Employee Benefit Plans
and Certain Broker-Dealers, Reporting Dealers and Banks
https://goo.gl/AehNjM
Amendments to and Partial Revocation
of Prohibited Transaction Exemption 86-128 for Securities
Transactions Involving Employee Benefit Plans and Broker-Dealers;
Amendment to and Partial Revocation of PTE 75-1, Exemptions From
Prohibitions Respecting Cert
https://goo.gl/ejZ3k8
Amendments to Class Exemptions 75-1,
77-4, 80-83 and 83-1
https://goo.gl/OayPAu
Best Interest Contract
Exemption
https://goo.gl/BNw99I
Class Exemption for Principal
Transactions in Certain Assets between Investment Advice
Fiduciaries and Employee Benefit Plans and IRAs
https://goo.gl/FFiW2B
Definition of the Term Fiduciary;
Conflict of Interest Rule – Retirement Investment
Advice
https://goo.gl/j8L8es
The following link is to related material from the DOL: http://www.dol.gov/ebsa/
Specific useful links:
FAQs: http://www.dol.gov/ebsa/faqs/faq-conflict-of-interest.html
Chart: http://www.dol.gov/ebsa/pdf/conflict-of-interest-chart.pdf
Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.
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