Definition of an Investment Advice Fiduciary

Activity

National Federation of Independent Business filed 1 comment on this docket between Dec 20, 2023 and Dec 20, 2023. 3 other organizations filed here. The comment window closed 938d ago.

What National Federation of Independent Business filed (1)

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.

• National Federation of Independent BusinessTHIS ORG

  1 filing · confidence 97%
• 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%