Fund Managers have quite a bit of responsibility to manage and it can be overwhelming to comply with the patchwork of federal and state laws, regulations, statutes, opinion letters, and duties that govern their activities.
Professionals who work with “Plans”, as defined under the Employment Retirement Income Security Act of 1974 (ERISA), and for those that recommend certain investments to individual retirement accounts (“IRA”), such individuals must be mindful to update their firm’s policies and procedures now that the U.S. Department of Labor (DOL) is proceeding with the adoption of a fiduciary exemption that can impose restrictions upon and prevent fiduciaries from engaging in certain activities.
In early 2021, a prohibited transaction exemption (“PTE”) issued by the Department of Labor (“DOL”) took effect that allows qualifying investment advisers to receive conflicted compensation resulting from nondiscretionary fiduciary investment advice.
The Department of Labor (“DOL”) released a fact sheet in March 2014 detailing a proposed amendment to Section 408(b)(2) of the Employee Retirement Income Security Act of 1974 (“ERISA”) that would, if passed and enacted, require a guide for plan…
ERISA Rule 404a-5 was enacted in order to provide greater transparency to investors in 401(k) type pension plans. The rule was adopted two years ago, but the August 30, 2012 deadline for plan administrators to issue the required disclosures is…
Jacko Law Group, P.C. (“JLG”) wrote a Legal Tip titled Erisa 408(b)(2) Disclosures: Are You Ready? in June, 2012.… Read More
The prohibited transaction provisions of ERISA limit arrangements and payments to service providers to ERISA-covered retirement plans, including investment advisers, which may involve conflicts of interest with respect to the use of plan assets. An exemption from the prohibited transaction…
As discussed in a previous Jacko Law Group, PC Legal Risk Management Tip, in October of last year the Department of Labor (the “DOL”) published a proposed rule that would amend the definition of “fiduciary”, and would significantly expand the…
Jacko Law Group, P.C. (“JLG”) wrote a Legal Tip titled New Disclosure Obligations For Service Providers To Erisa Plans in August, 2011.… Read More
Jacko Law Group, P.C. (“JLG”) wrote a Legal Tip titled DOL Proposes Expansive New Definition Of “Fiduciary” Under ERISA in November, 2010.… Read More