More retirement-related regulatory news for plan sponsors, including links to detailed information.
DOL announces temporary nonenforcement policy on fiduciary conflict rules
The U.S. Department of Labor (DOL) released Field Assistance Bulletin (FAB) 2018-02, which announces a temporary enforcement policy on prohibited transaction exemption (PTE) rules applicable to investment advice fiduciaries. The FAB states that, temporarily, the DOL will not pursue prohibited transaction claims against investment advice fiduciaries (advisers and broker-dealers) who are working diligently and in good faith to comply with the 2016 fiduciary rule that became applicable June 9, 2017. The nonenforcement period will extend until after the DOL issues regulations or exemptions or other administrative guidance.
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