The New Fiduciary Rule (39): Qualified Annuity Exchanges
July 23, 2024 by Faegre Drinker Biddle & Reath LLP
The Department of Labor has issued the:
- final regulation defining fiduciary status for investment advice to retirement investors and
- related exemptions for prohibited conflicts—PTEs 2020-02 and 84-24.
The exemptions provide relief from prohibited compensation resulting from fiduciary recommendations to “retirement investors”—private sector retirement plans, participants in those plans (including rollover recommendations), and IRAs—individual retirement accounts and individual retirement annuities (including recommendations of transfers and exchanges).
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Originally Posted at JD Supra on July 18, 2024 by Faegre Drinker Biddle & Reath LLP.
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