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 exemption applications 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 five prohibited transaction exemptions (PTEs 75-1, 77-4, 80-83, 83-1, and 86-128) that currently permit fiduciaries to receive compensation otherwise prohibited by law. The proposed amendments would remove fiduciary investment advice from the covered transactions in each exemption. Fiduciaries looking to receive compensation for investment advice would instead have to rely on PTE 2020-02 or PTE 84-24.
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