DOL Fiduciary Rule Compliance: IRAs, Rollovers, Investments, Issues for Advisers, Plan Sponsors, and Administrators

Exemptions, Rollover Recommendations, Conflicts of Interest Disclosures and Mitigation, DOL Investigations, and More

Recording of a 90-minute premium CLE video webinar with Q&A


Conducted on Wednesday, August 18, 2021

Recorded event now available

or call 1-800-926-7926
Course Materials

This CLE course will provide ERISA counsel and advisers guidance on the compliance challenges of the DOL fiduciary rule. The panel will discuss recent final DOL guidance for investment advice, issues stemming from IRAs and rollovers, exemptions, conflicts of interest, and more. The panel will also provide next steps for counsel and advisers, significant responsibilities faced by asset managers, plan providers, and sponsors, challenges in constructing a new compliance program under ERISA, and methods in maintaining compliance moving forward.

Description

New guidance from DOL on its interpretation of the definition of fiduciary in connection with providing investment advice creates risk that can significantly impact broker-dealers, investment advisers, insurance agencies, etc., raising a level of uncertainty in ensuring fiduciary compliance. Counsel and advisers must understand the challenges associated with the fiduciary rules under ERISA, recent DOL guidance for investment advice, and methods to ensure compliance.

Asset managers, plan sponsors, and providers that implemented programs to comply with the previous (now vacated) fiduciary rule continue to face significant responsibilities in reinstating prior ERISA and IRC compliance standards, as adjusted for new guidance. In addition, a recently finalized exemption and changes to DOL’s interpretation regarding the rules for investment advice impact considerations when making recommendations to rollover assets from an employee benefit plan to an IRA.

ERISA counsel and advisers must understand the rules applicable to fiduciaries, the challenges stemming from recent DOL guidance on the rules for investment advice, and methods to maintain compliance for asset managers, plan sponsors, and providers.

Listen as our panel discusses the recent DOL guidance on the rules for investment advice, issues stemming from IRAs and rollovers, exemptions, conflicts of interest, prohibited transaction considerations, and methods to ensure that policies and procedures comply with the fiduciary rules.

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Outline

  1. Fiduciary rules and key issues for asset managers, plan sponsors, and providers
  2. ERISA five-factor fiduciary test
  3. Recent DOL guidance for rollovers to IRAs
  4. Prohibited transaction considerations
  5. PTE 2020-02 and other exemption
  6. Best practices for compliance programs

Benefits

The panel will review these and other key issues:

  • The impact of DOL fiduciary rules for investment advice
  • Recent DOL guidance for rollovers to IRAs
  • Considerations for asset managers, plan sponsors, and providers moving forward
  • ERISA fiduciary test and exemptions
  • Overcoming administrative challenges to enacting new compliance programs

Faculty

Delaney, Ruth
Ruth E. Delaney

Partner
K&L Gates

Ms. Delaney is a partner in the asset management and investment funds practice group, concentrating in the ERISA...  |  Read More

Zanotti, Kristina
Kristina M. Zanotti

Partner
K&L Gates

Ms. Zanotti is a partner in the investment management practice group, concentrating in the ERISA fiduciary and...  |  Read More

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Strafford will process CLE credit for one person on each recording. All formats include course handouts.

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