BREAKING: DOL Expands the Voluntary Fiduciary Correction Program
By EsqSocial Corporation 16/01/25
Yesterday, the U.S. Department of Labor (DOL) published in the Federal Register an updated version of the Voluntary Fiduciary Correction Program (VFCP) under Title I of ERISA. Per the DOL, VFCP “is designed to encourage correction of fiduciary breaches and compliance with law by permitted persons to avoid potential [DOL] civil enforcement actions and civil penalties if they voluntarily correct” errors in accordance with the program....
By: Bass, Berry & Sims PLC