National Federation of Independent Business filed 1 comment on this docket between Dec 20, 2023 and Dec 20, 2023. 1 other organizations filed here. The comment window closed 938d ago.
NFIB (National Federation of Independent Business) comment letter of December 7, 2023, on proposed Fiduciary Rule RIN 1210-AC02 and related proposed prohibited transaction exemptions D-12057, 12060, and 12094, in notices published at 88 Fed. Reg. 75890, 75979, 76004, and 76032 (Nov. 3, 2023), is attached.
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.
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