16-EF-06: DOL - Fiduciary Duty Rule

The Department of Labor (DOL) issued a final rule that defines what communications are considered fiduciary “investment advice” for purposes of Employee Retirement Income Security Act (ERISA) and the Internal Review Code (Code). An individual or entity that provides fiduciary investment advice to a specific individual for a fee or other compensation is considered a “fiduciary” under ERISA and the Code and subject to certain fiduciary duties.

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