Thank you for sharing!

Your article was successfully shared with the contacts you provided.
The exemption allows investment advice fiduciaries to receive compensation and to engage in principal transactions that would otherwise violate ERISA’s and the Code’s prohibited transaction provisions. (Photo: Shutterstock)

The Department of Labor issued a press release late last week confirming that the new fiduciary investment advice guidelines under Prohibited Transaction Exemption 2020-02 would go into effect on February 16, 2021. The DOL also confirmed that the temporary enforcement relief provided by Field Assistance Bulletin 2018-02 will remain in place until December 20, 2021.


Join BenefitsPRO

Don’t miss crucial news and insights you need to navigate the shifting employee benefits industry. Join BenefitsPRO.com now!

  • Unlimited access to BenefitsPRO.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
  • Exclusive discounts on BenefitsPRO.com and ALM events.

Already have an account? Sign In Now
Join BenefitsPRO

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.