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Implications of Prohibited Transaction Exemption 2020-02: Improving Investment Advice for Workers and Retirees
The DOL anticipates taking further action on investment advice, which may mean changing the existing regulation or issuing a new regulation that expands the scope of who a fiduciary is under ERISA. While not surprising, the DOL consideration of a new rule would be significant given the breadth and potential effects of the DOL’s prior proposed rule relating to fiduciary investment advice. LL Global’s webinar featuring Phyllis Borzi, former assistant secretary at the Department of Labor and other industry leaders will provide a glimpse into what that might look like in 2022. You won’t want to miss this live webinar on August 11, 2021.
- Phyllis Borzi, Independent Consultant, former Assistant Secretary for Employee Benefits of the United States Department of Labor
- Edward K. Duch, III, Lead Counsel, Wealth Management, Mass Mutual
- Khalif I. Ford, Vice President, Corporate Counsel and Chief Legal Officer, Global Portfolio Solutions, Inc., Prudential Financial Inc.
- Steven LaFore, Assistant General Counsel, Northwestern Mutual
- Fred Reish, Partner, Faegre Drinker Biddle & Reath LLP
- Skip Edmonds, Head of Compliance and Regulatory Practice, LL Global
- Carolyn Clement, Associate Product Manager, LIMRA
The DOL anticipates taking further action on investment advice, which may mean changing the existing regulation or issuing a new regulation that expands the scope of who a fiduciary is under ERISA.
For insurance carriers, broker-dealers, and investment advisers that intend to utilize the Prohibited Transaction Exemption 2020-02, a heavy compliance burden lies ahead. Firms will need to develop a comprehensive process for measuring reasonable compensation and document how inherent conflicts of interest are mitigated.
This webinar discusses practical implications carriers and service providers should be thinking about as they look to comply with its requirements through the transition period (up to December 20, 2021).
This Webinar is for insurance carriers, broker-dealers, advisers, and service providers to ERISA plans and IRAs.
This webinar discusses practical implications carriers and service providers should be thinking about as they look to comply with its requirements through the transition period (up to December 20, 2021).
