Impact Analysis: Unpacking the DOL’s Investment Advice Exemption for Banks & Registered Investment Advisers

Jason C. Roberts, CEO, Pension Resource Institute & Retirement Law Group

Steve Niehoff, COO, Pension Resource Institute

December 18, 2020

Now that the DOL has published its long-awaited final regulation designed to fill the void left when the Fifth Circuit Court of Appeals vacated the Obama-era “fiduciary rule.”  The rule comes in the form of a Prohibited Transaction Exemption (PTE) that is technical and nuanced, and its impact on banks and RIAs cannot be overstated.  Indeed, among other requirements, the conditions of the exemption must be satisfied any time one of their representatives recommends an IRA rollover.

Steve and Jason break down the PTE, discuss strategies for compliance and provide actionable takeaways for attendees.  

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