Proposed Amendment to Prohibited Transaction Exemption 84-24

2 organizations filed 2 public comments on Proposed Amendment to Prohibited Transaction Exemption 84-24, at the Employee Benefits Security Administration. The comment window closed 938d ago.

Abstract

In connection with its proposal to update its regulation defining a “fiduciary,” the Department of Labor is proposing to update PTE 84-24, a prohibited transaction exemption establishing conditions that investment advice providers must follow if they want to receive compensation that would otherwise be prohibited by law. Under the proposed amendment, fiduciaries who are independent insurance agents recommending annuities from unaffiliated insurance companies would be allowed to receive compensation if they meet certain conditions.

Commenters (2)

• National Federation of Independent Businesstrade assoc.

  1 filing · confidence 97%
• U.S. Chamber of Commerce

  1 filing · confidence 97%