Definition of an Investment Advice Fiduciary

4 organizations filed 7 public comments on Definition of an Investment Advice Fiduciary, at the Employee Benefits Security Administration. The comment window closed 938d ago.

Abstract

This document contains a proposed amendment to the regulation defining when a person renders “investment advice for a fee or other compensation, direct or indirect” with respect to any moneys or other property of an employee benefit plan, for purposes of the definition of a “fiduciary” in the Employee Retirement Income Security Act of 1974 (Title I of ERISA or the Act). The proposal also would amend the parallel regulation defining for purposes of Title II of ERISA, a “fiduciary” of a plan defined in Internal Revenue Code (Code) section 4975, including an individual retirement account. The Department also is publishing elsewhere in today’s Federal Register proposed amendments to Prohibited Transaction Exemption 2020-02 (Improving Investment Advice for Workers & Retirees) and to several other existing administrative exemptions from the prohibited transaction rules applicable to fiduciaries under Title I and Title II of ERISA.

Commenters (4)

• American Bankers Associationtrade assoc.

  3 filings · confidence 97%
• U.S. Chamber of Commerce

  2 filings · confidence 97%
• Consumer Technology Associationtrade assoc.

  1 filing · confidence 97%
• National Federation of Independent Businesstrade assoc.

  1 filing · confidence 97%