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The New DOL Fiduciary Rule: Key Provisions and Challenges for Counsel, Advisers, and their Clients

New Definition of Investment Advice Fiduciary, Amendments to Prohibited Transaction Class Exemptions, Compensation, and More

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

This program is included with the Strafford CLE Pass. Click for more information.
This program is included with the Strafford All-Access Pass. Click for more information.

Conducted on Wednesday, June 26, 2024

Recorded event now available

or call 1-800-926-7926

This CLE webinar will guide employee benefits counsel and legal counsel to financial services providers in understanding the practical implications of the U.S. Department of Labor’s (DOL) new fiduciary rule and prohibited transaction exemption amendments for retirement plan sponsors, plan advisers, financial services providers, and other key groups that deal with ERISA-covered plans and IRAs. The panel will examine key provisions of the latest DOL fiduciary rule, the definition of "investment advice fiduciary" under the rule, modifications to prohibited transaction exemptions, significant responsibilities faced by advisers, plan providers and sponsors, and methods for maintaining compliance moving forward.


The DOL's fiduciary rule has undergone many revisions and challenges over the last few years, creating a level of uncertainty in determining fiduciary status. Counsel and advisers must understand the challenges associated with the most recent rendition of the fiduciary rules under ERISA and the Internal Revenue Code and methods to ensure compliance.

On April 23, 2024, the DOL released a final regulation modifying the definition of "investment advice fiduciary" under ERISA and the Internal Revenue Code, as well as final amendments to certain related prohibited transaction class exemptions. Benefits counsel must understand the impact of the DOL's new fiduciary rule on retirement plan sponsors, advisers, and financial services providers to advise their clients on compliance and implementation best practices.

Listen as our panel discusses recent court decisions that significantly impact the application of the DOL fiduciary rule, courts' application of the five-part test to determine fiduciary status, and key considerations for financial advisers and plan sponsors.



  1. Overview of new DOL fiduciary rule
  2. Key considerations for sponsors, administrators, and advisers
  3. Compliance planning
  4. Implementation


The panel will discuss these and other key issues:

  • Unpacking the DOL fiduciary rule and key issues for advisers
  • The new definition of ”investment advice fiduciary” and its exclusions
  • Exemptions from the prohibited transaction provisions of ERISA and the Internal Revenue Code
  • Compliance planning tactics


Kaleda, David
David C. Kaleda

Groom Law Group

Mr. Kaleda's broad range of experience includes handling fiduciary matters impacting plan sponsors, investment...  |  Read More

Olstein, David
David C. Olstein

Hogan Lovells

Mr. Olstein’s practice focuses on the fiduciary responsibility provisions of ERISA and the prohibited transaction...  |  Read More

Ryan, Alexander
Alexander P. Ryan

Willkie Farr & Gallagher

Mr. Ryan is a partner in the Executive Compensation & Employee Benefits Department, specializing in ERISA Title I...  |  Read More

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