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DOL Issues Interpretative Guidance on Investment Advice Prohibited Transaction Exemption (PTE 2020-02)

On April 13, 2021, the U.S. Department of Labor issued a set of previously promised FAQs addressing its new prohibited transaction exemption (PTE 2020-02). PTE 2020-02 allows “investment advice fiduciaries” to employee benefit plans and individual retirement accounts (IRAs) to receive certain otherwise prohibited compensation, including commissions, 12b-1 fees, revenue sharing, and mark-ups and mark-downs in certain principal transactions. The exemption expressly covers prohibited transactions resulting from rollover advice, advice on how to invest assets within a plan or IRA, and advice on whether to engage in certain principal transactions.

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ISS Releases 2013 Global Policy Updates

Practices: Executive Compensation & Employee Benefits

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