Fiduciary Rule Prohibited Transaction Class Exemption Released By The DOL
By EsqSocial Corporation 21/01/21
On December 15, 2020, the U.S. Department of Labor (DOL) released a final prohibited transaction class exemption for certain fiduciary investment advice actions. Issuance of the exemption is the latest in the tug of war of what began as the DOL’s Fiduciary Rule under the Obama administration. The exemption will become effective 60 days after publication by the DOL unless the Biden administration takes action to delay or modify it. The final exemption is broader than the proposed exemption issued...
By: Lowenstein Sandler LLP