The changes will primarily impact registered investment advisers, banks, and insurance companies who manage retirement plan or IRA assets directly, or who manage certain types of funds or other vehicles for which the underlying assets are deemed to constitute “plan assets” under the look-through rules in ERISA and DOL regulations.
To view the full alert, visit the Faegre Drinker website.
The material contained in this communication is informational, general in nature and does not constitute legal advice. The material contained in this communication should not be relied upon or used without consulting a lawyer to consider your specific circumstances. This communication was published on the date specified and may not include any changes in the topics, laws, rules or regulations covered. Receipt of this communication does not establish an attorney-client relationship. In some jurisdictions, this communication may be considered attorney advertising.
About Author: Joshua Waldbeser
Joshua Waldbeser counsels retirement plan sponsors, asset managers and funds, and financial services providers on their fiduciary responsibilities under ERISA, and keeps them on course with regulatory compliance matters. Formerly with the Department of Labor (DOL) Employee Benefits Security Administration, Joshua has an insider’s view of the regulatory challenges faced by employers with respect to their own plans, and by insurance companies, investment advisers, broker-dealers, recordkeepers, banks and trust companies with respect to their services to plans and IRAs. He provides practical, business-oriented advice that reflects the interplay between ERISA, securities and other sources of law, and focuses on compliance and risk mitigation. View all posts by Joshua Waldbeser, Fred Reish and Joan Neri
About Author: Fred Reish
Fred Reish is a noted authority on retirement plan products and plan management who helps ensure that clients fulfill their fiduciary duty to investors and comply with federal law. He counsels plan sponsors, service providers and registered investment advisers on fiduciary responsibility, prohibited transactions under federal law, federal audits and pension plan disputes. When clients face regulatory disputes, Fred counsels them on mitigating the impact of enforcement actions and resolving compliance issues. View all posts by Joshua Waldbeser, Fred Reish and Joan Neri
About Author: Joan Neri
Joan Neri provides counsel to employer plan sponsors and plan service providers in fulfilling their obligations under the Employee Retirement Income Security Act (ERISA) and complying with the Internal Revenue Code rules governing employee benefit plans. Joan advises on ERISA fiduciary status and responsibilities, avoidance of prohibited transactions, the considerations associated with structuring, developing and offering investment products and services to ERISA plans, and day-to-day plan operational and compliance issues. View all posts by Joshua Waldbeser, Fred Reish and Joan Neri
