WebMay 15, 2024 · DOL Releases Field Assistance Bulletin Following Fiduciary Rule Revocation. May 15, 2024. On May 7, 2024, the DOL released Field Assistance Bulletin (FAB) No. 2024-02. This FAB addresses the DOL’s non-enforcement policy now that the Fiduciary Rule (the Rule) has been vacated by the U.S. Court of Appeals for the Fifth … WebMay 10, 2024 · Rather, FAB 2024-02 appears designed to preserve existing compliance methods for securing prohibited transaction relief for these advisers who are fiduciaries under the old five-part test until the DOL issues formal guidance (likely through the proposal of a new exemption) in the future.”
DOL Announces Temporary Fiduciary Rule Enforcement Policy
WebJul 13, 2024 · FAB 2024-02 (described above) allowed “investment advice” fiduciaries to continue to rely on the new Best Interest Contract Exemption and Class Exemption for Principal Transactions if they worked diligently and in good faith to comply with the impartial conduct standards required by those exemptions. cheap clothing stores in atlanta
DOL Puts Fiduciary Rule Enforcement on Hold - AMERICAN …
WebField Assistance Bulletin 2024-02, issued by the DOL on May 7, 2024, provided that financial institutions may continue to rely on the temporary enforcement relief policy that … WebOct 28, 2024 · In FAB 2024-02, the DOL notes that the December 20, 2024 expiration date for the temporary nonenforcement policy poses practical difficulties, and may create … WebMay 8, 2024 · On May 7, 2024, the DOL issued Field Assistance Bulletin 2024-02 (FAB 2024-02), which provides that the temporary enforcement policy announced in FAB 2024 … cutters hair salon cherry hill nj