Capital Group Policy Spotlight | Capital Group

Capital Group Policy Spotlight


JANUARY 27, 2020
The key takeaways of the SECURE Act

What does the SECURE Act mean for retirement plans and advisors? Learn the key provisions, takeaways and impacts on 401(k) participants.


Capital Group senior counsel Jason Bortz explains why the Department of Labor conflict of interest rule does not favor open architecture over single-fund-family solutions. Watch the video to see why there are many prudent reasons a fiduciary might choose a single-fund-family solution.

Variable annuities in IRAs were one of the more controversial aspects of the DOL’s initial proposal. The proposed rule would have required that variable annuity contract sales into IRAs comply with the Best Interest Contract exemption — including preexisting variable annuities that are already sitting in IRAs. Instead, the final rule covers variable annuity contracts and IRAs with the grandfather provision.

Under the new fiduciary rule, advisors will have to look at whether staying in plan is in the best interests of their clients, and document their assessments. Watch to learn more.

The final fiduciary rule impacts advisory business, but not nearly as much as it does traditional brokerage business. Being an ERISA fiduciary is really a new world, because of prohibited transaction rules that bar an advisor from working on a transaction where there’s any whiff of a conflict of interest.

Initially a more controversial part of the initial DOL proposal, the final rule includes a Best Interest Contract exemption that allows a financial institution to receive variable compensation. But it must take steps to mitigate potential conflicts of interest, such as incentives for product recommendations that pay the firm more in compensation.

OCTOBER 29, 2019

SEC issues final rules on Regulation Best Interest (Reg BI)

On June 5, 2019, the Securities and Exchange Commission (SEC) released final rules - scheduled to take effect on June 30, 2020 - to regulate investment advice provided by brokers to any customers who invest for personal, family, or household purposes.

SEPTEMBER 15, 2017

New FAQs on the Proposed Transition Period Extension

As the U.S. Department of Labor’s request for a new implementation delay is considered, we address some possible questions on the implications for the fiduciary rule.

June 27, 2017

Frequently Asked Questions: DOL Fiduciary Rule

The Department of Labor (DOL) fiduciary rule went into effect on June 9, greatly expanding the definition of fiduciary investment advice. Capital Group provides answers to frequently asked questions about this new rule.

JUNe 23, 2017
DOL Conflict of Interest Rule Impacts Rollovers

The Department of Labor (DOL) conflict of interest rule has a far-reaching impact on financial advisors with clients in retirement plans. Here is what the new fiduciary rule means for 401(k) rollover recommendations.

JUNE 23, 2017
Adapting to the DOL Fiduciary Rule

Investment professionals are now taking steps to implement the changes required by the Department of Labor’s (DOL) fiduciary rule, which went into effect starting this month.

JunE 23, 2017
How the DOL Fiduciary Rule Allows for Commission-Based Investment Advice

As of June 9, investment advice pertaining to retirement accounts is subject to a fiduciary standard, according to Department of Labor (DOL) requirements. This means advisors will be legally required to give advice solely in their clients’ best interest — and to meet new requirements that mitigate potential conflicts of interest.

JANUARY 9, 2017

Moving Forward as a Fiduciary

Use this comprehensive reference guide to gain a greater understanding of the DOL’s fiduciary rule, learn strategies to meet the new requirements and position your practice to succeed.

June 21, 2018
DOL fiduciary rule revoked; DOL provides interim guidance

In March, the 5th Circuit Court of Appeals issued a decision vacating the DOL Fiduciary Rule in its entirety. The ruling went into effect on June 21, 2018, meaning that the DOL Fiduciary Rule is no longer the law of the land. 

SEPTEMBER 15, 2017
DOL Proposes Extending Transition Period by 18 Months

Last month, the U.S. Department of Labor requested an 18-month extension of the fiduciary rule’s transition period. As a result, key changes may be in store for the Best Interest Contract (BIC) exemption and two other exemptions.

JUNE 20, 2017
DOL Fiduciary Rule Takes Effect

The DOL fiduciary rule took effect, expanding the definition of investment advice. However, the full requirements will not be effective until January 1, 2018.

APRIL 26, 2017
DOL Delays Fiduciary Rule

The DOL announced a 60-day delay in the implementation of its fiduciary rule, which is now scheduled to become effective on June 9.

DECEMBER 16, 2016

Fiduciary Rule Implementation: Impact of the New Administration 

How will the election results impact the implementation timing of the final DOL rule, slated for April 2017?

april 29, 2016
The DOL’s Final Rule: Broadened Standards and Practice Changes for Advisors

On April 6, the Department of Labor (DOL) issued its finalized fiduciary rule. Over a year in the making, this final rule will have a significant impact on how retirement investment advice is delivered in the United States.

Investments are not FDIC-insured, nor are they deposits of or guaranteed by a bank or any other entity, so they may lose value.

Investors should carefully consider investment objectives, risks, charges and expenses. This and other important information is contained in the fund prospectuses and summary prospectuses, which can be obtained from a financial professional and should be read carefully before investing. 

Statements attributed to an individual represent the opinions of that individual as of the date published and do not necessarily reflect the opinions of Capital Group or its affiliates. This information is intended to highlight issues and should not be considered advice, an endorsement or a recommendation. 

This content, developed by Capital Group, home of American Funds, should not be used as a primary basis for investment decisions and is not intended to serve as impartial investment or fiduciary advice.

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