February 12, 2021

DOL Class Exemption for Investment Advice Fiduciaries Goes into Effect

A DOL class exemption that allows investment advice fiduciaries to receive compensation and engage in certain transactions otherwise prohibited under ERISA and Internal Revenue Code Section 4975 went into effect on February 16, 2021.

The class exemption was published in the Federal Register on December 18, 2020. (See also prior coverage.)