Department Of Labor Announces Temporary Enforcement Policy As To ‘Fiduciary Rule’

(May 9, 2018, 1:18 PM EDT) -- WASHINGTON, D.C. — Following a majority of the Fifth Circuit U.S. Court of Appeals’ ruling that vacated the U.S. Department of Labor’s 2016 “fiduciary rule,” the DOL on May 7  issued Field Assistance Bulletin No. 2018-02, announcing a temporary enforcement policy related to its rule defining who is a “fiduciary” under the Employee Retirement Income Security Act, the Internal Revenue Code and associated prohibited transaction exemptions, noting that this “temporary enforcement relief is appropriate and in the interest of plans, plan fiduciaries, plan participants and beneficiaries, IRAs, and IRA owners.”...

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