Regulatory Compliance Association Reviews

Re-Proposed ERISA Regulation on Fiduciary Status – Will Possible Changes in Services & Costs Be in the Best Interests of IRAs & Employee Benefit Plans?™

Practice Edge 02

Date: October 22, 2015
General Session: 12 Noon to 1:30 PM EST
Location: Webcast (Free)

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The US Department of Labor has re-proposed its controversial fiduciary regulation that would define “investment advice” for purposes of the Employee Retirement Income Security Act of 1974 (“ERISA”) and for IRAs. The regulation, if finalized as proposed, could have a dramatic impact on the way in which financial institutions conduct their advisory and brokerage businesses, and could affect the availability and pricing of a wide variety of critical services. The “retail” and “IRA” markets could be particularly affected. The Department issued 2500 pages of regulatory rules, received thousands of comments, held 4 days of hearings, and has heard from both parties in Congress as well as from other federal regulatory agencies. This course, given by our panel of experienced ERISA attorneys who have been close to the process as the regulation has developed, will give background, analysis and insight regarding this important regulatory development.

Students should leave this class session with a solid introduction to the proposed “investment advice” regulation, including:

  • Background and context regarding the re-proposed regulation, including a discussion of how we got to where we are
  • A summary of the regulation (and of related proposed exemptions)
  • A sense of where we might go from here
  • An exploration of what the regulation might mean as a practical matter if finalized – including for plans and IRAs, for insurance companies, for broker-dealers, for financial professionals and for mutual funds

Session Chairman:

Walter Zebrowski, JD, CPA, Principal, Hedgemony Partners
Chairman, Regulatory Compliance Association

Senior Fellow from Practice:

Andrew Oringer, JD, Partner, Dechert

Guest Lecturers:

Melanie Nussdorf, JD, Steptoe & Johnson

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