Sponsorships and Speaking Engagements | 3 October 2024 | 1:00 p.m. - 3:10 p.m. (ET)

myLaw CLE webinar: Exploring the New DOL Fiduciary Investment Advice Rule: History, potential impact, and recent developments

Employee Benefits and Executive Compensation partner David Olstein will be speaking in a myLaw CLE webinar titled Exploring the New DOL Fiduciary Investment Advice Rule: History, potential impact, and recent developments on 3 October 2024 at 1:00 p.m. to 3:10 p.m. EST.

This CLE session will provide an in-depth discussion on the Department of Labors April 25, 2024, Retirement Security Rule and related prohibited transaction exemption amendments (collectively, the “New DOL Fiduciary Investment Advice Rule”) for ERISA plan investment advisers and other financial services professionals. The New DOL Fiduciary Investment Rule would, if it survives judicial scrutiny, redefine “fiduciary” investment advice to ERISA plans and individual retirement accounts, replacing the DOL’s 1975 five-part test by which “fiduciary” investment advice currently is determined.

Attendees of this session will learn how the New DOL Fiduciary Investment Advice Rule would expand the scope of “fiduciaries” under ERISA and the Internal Revenue Code by including financial professionals, such as broker-dealers and insurance companies and agents, who provide investment advice regularly as part of their business. The session will explore the revised definition of “fiduciary” investment advice and the amendments to related prohibited transaction exemptions under the New DOL Fiduciary Investment Rule, as well as the recent legal challenges to the New DOL Fiduciary Investment Advice Rule and where the courts and the DOL may go from here.

Key topics to be discussed:

• Legal and Regulatory History
• Redefinition of “Fiduciary” Investment Advice Under ERISA and the Code Impact on Financial Services Providers
• Amendments to Prohibited Transaction Class Exemptions Under ERISA and the Code
• Recent Court Decisions
• Practical Considerations for Financial Services Providers During this Time of Uncertainty

For more information, please click here.