
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.
Videos
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.
Regulatory Review
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
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.
News
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.