Will ERISA’s Fiduciary Exemption “Rollover” to the New Administration? DOL Issues Year-End Package Relating to “Investment Advice.”
By EsqSocial Corporation 20/01/21
Overview The U.S. Department of Labor (the “DOL”) on December 15, 2020 issued a release (the “Release”) finalizing Prohibited Transaction Class Exemption (“PTCE”) 2020-2 (the “Final Exemption”) for retirement accounts (“Plans”) that are subject to the Employee Retirement Income Security Act of 1974 (“ERISA”) or Section 4975 of the Internal Revenue Code of 1986 (the “Code”). The Final Exemption provides relief from ERISA’s and the Code’s prohibited transaction rules for individuals and...
By: Dechert LLP