{"id":1054,"date":"2020-07-09T18:15:05","date_gmt":"2020-07-09T18:15:05","guid":{"rendered":"http:\/\/localhost\/?p=1054"},"modified":"2020-07-09T18:15:05","modified_gmt":"2020-07-09T18:15:05","slug":"department-of-labors-fiduciary-proposal-3-0","status":"publish","type":"post","link":"https:\/\/bdia.pli.edu\/index.php\/2020\/07\/09\/department-of-labors-fiduciary-proposal-3-0\/","title":{"rendered":"Department of Labor\u2019s Fiduciary Proposal 3.0"},"content":{"rendered":"<div>In an important development, the Labor Department has issued a new proposal to address conflicted investment advice provided by ERISA fiduciaries:\n<\/div>\n<ul>\n<li>Consonant with the vacatur of its 2016 rule, DOL reinstated the longstanding 5-part test of investment advice fiduciary status, but announced new interpretations of that test that will cause rollover advice and possibly other interactions to become fiduciary advice.<\/li>\n<li>DOL also proposed a new, principles-based class exemption broadly available for conflicted advice and intended to align with other bodies of law to which financial institutions are subject.<\/li>\n<\/ul>\n<p><a href=\"http:\/\/In an important development, the Labor Department has issued a new proposal to address conflicted investment advice provided by ERISA fiduciaries. Eversheds Sutherland has prepared a summary and initial detailed analysis of the proposal and its consequences.   Consonant with the vacatur of its 2016 rule, DOL reinstated the longstanding 5-part test of investment advice fiduciary status, but announced new interpretations of that test that will cause rollover advice and possibly other interactions to become fiduciary advice. DOL also proposed a new, principles-based class exemption broadly available for conflicted advice and intended to align with other bodies of law to which financial institutions are subject.\">Read more here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In an important development, the Labor Department has issued a new proposal to address conflicted investment advice provided by ERISA fiduciaries: Consonant with the vacatur of its 2016 rule, DOL reinstated the longstanding 5-part test of investment advice fiduciary status, but announced new interpretations of that test that will cause rollover advice and possibly other &hellip; <a href=\"https:\/\/bdia.pli.edu\/index.php\/2020\/07\/09\/department-of-labors-fiduciary-proposal-3-0\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Department of Labor\u2019s Fiduciary Proposal 3.0<\/span> <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[23,24,21,22],"tags":[],"class_list":["post-1054","post","type-post","status-publish","format-standard","hentry","category-compliance","category-enforcement","category-regulatory","category-standard-of-care"],"aioseo_notices":[],"post_mailing_queue_ids":[],"_links":{"self":[{"href":"https:\/\/bdia.pli.edu\/index.php\/wp-json\/wp\/v2\/posts\/1054","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bdia.pli.edu\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bdia.pli.edu\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bdia.pli.edu\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/bdia.pli.edu\/index.php\/wp-json\/wp\/v2\/comments?post=1054"}],"version-history":[{"count":0,"href":"https:\/\/bdia.pli.edu\/index.php\/wp-json\/wp\/v2\/posts\/1054\/revisions"}],"wp:attachment":[{"href":"https:\/\/bdia.pli.edu\/index.php\/wp-json\/wp\/v2\/media?parent=1054"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bdia.pli.edu\/index.php\/wp-json\/wp\/v2\/categories?post=1054"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bdia.pli.edu\/index.php\/wp-json\/wp\/v2\/tags?post=1054"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}