Jan 5, 2024· 1210-ZA33 comment 00020 U.S. Chamber of Commerce Sheaks 01022024· EBSA-2023-0016-0022
Filed on regulations.gov — full text not in the inline record.
EBSARulemakingEBSA-2023-0016
Proposed Amendment to Prohibited Transaction Exemption 84-24
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Apr 25, 2024
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U.S. Chamber of Commerce filings
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U.S. Chamber of Commerce filed 1 comment on this docket between Jan 5, 2024 and Jan 5, 2024. 1 other organizations filed here. The comment window closed 938d ago.
What U.S. Chamber of Commerce filed (1)
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.
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