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<REGINFO_RIN_DATA xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" RUN_DATE="2026-04-04-04:00" xsi:noNamespaceSchemaLocation="https://www.reginfo.gov/public/xml/REGINFO_XML_Ver10262011.xsd">
    <RIN_INFO>
        <RIN>1210-AB32</RIN>
        <PUBLICATION>
            <PUBLICATION_ID>200910</PUBLICATION_ID>
            <PUBLICATION_TITLE>The Regulatory Plan and the Unified Agenda of Federal Regulatory and Deregulatory Actions</PUBLICATION_TITLE>
        </PUBLICATION>
        <AGENCY>
            <CODE>1210</CODE>
            <NAME>Employee Benefits Security Administration</NAME>
            <ACRONYM>EBSA</ACRONYM>
        </AGENCY>
        <PARENT_AGENCY>
            <CODE>1200</CODE>
            <NAME>Department of Labor</NAME>
            <ACRONYM>DOL</ACRONYM>
        </PARENT_AGENCY>
        <RULE_TITLE>Definition of &quot;Fiduciary&quot; -- Investment Advice</RULE_TITLE>
        <ABSTRACT><![CDATA[This rulemaking would amend the regulatory definition of the term fiduciary set forth at 29 CFR 2510.3-21 (c) to more broadly define as employee benefit plan fiduciaries persons who render investment advice to plans for a fee within the meaning of section 3(21) of ERISA.  The amendment would take into account current practices of investment advisers and the expectations of plan officials and participants who receive investment advice.]]></ABSTRACT>
        <PRIORITY_CATEGORY>Economically Significant</PRIORITY_CATEGORY>
        <RIN_STATUS>First Time Published in The Unified Agenda</RIN_STATUS>
        <RULE_STAGE>Proposed Rule Stage</RULE_STAGE>
        <MAJOR>Yes</MAJOR>
        <UNFUNDED_MANDATE_LIST>
            <UNFUNDED_MANDATE>Undetermined</UNFUNDED_MANDATE>
        </UNFUNDED_MANDATE_LIST>
        <CFR_LIST>
            <CFR>29 CFR 2510.3-21(c)</CFR>
        </CFR_LIST>
        <LEGAL_AUTHORITY_LIST>
            <LEGAL_AUTHORITY>29 USC 1002</LEGAL_AUTHORITY>
            <LEGAL_AUTHORITY>ERISA sec 3(21)</LEGAL_AUTHORITY>
            <LEGAL_AUTHORITY>29 USC 1135</LEGAL_AUTHORITY>
            <LEGAL_AUTHORITY>ERISA sec 505</LEGAL_AUTHORITY>
        </LEGAL_AUTHORITY_LIST>
        <LEGAL_DLINE_LIST/>
        <RPLAN_ENTRY>Yes</RPLAN_ENTRY>
        <RPLAN_INFO>
            <STMT_OF_NEED><![CDATA[This rulemaking is needed to bring the definition of fiduciary into line with investment advice practices and to recast the current regulation to better reflect relationships between investment advisers and their employee benefit plan clients.  The current regulation may inappropriately limit the types of investment advice relationships that should give rise to fiduciary duties on the part of the investment adviser.]]></STMT_OF_NEED>
            <LEGAL_BASIS><![CDATA[Section 505 of ERISA provides that the Secretary may prescribe such regulations as she finds necessary and appropriate to carry out the provisions of title I of the Act.  Regulation 29 CFR 2510.3-21(c) defines the term fiduciary for certain purposes under section 3(21) of ERISA.]]></LEGAL_BASIS>
            <ALTERNATIVES><![CDATA[Alternatives will be considered following a determination of the scope and nature of the regulatory guidance needed by the public.]]></ALTERNATIVES>
            <COSTS_AND_BENEFITS><![CDATA[Preliminary estimates of the anticipated costs and benefits will be developed, as appropriate, following a determination regarding the alternatives to be considered.]]></COSTS_AND_BENEFITS>
        </RPLAN_INFO>
        <TIMETABLE_LIST>
            <TIMETABLE>
                <TTBL_ACTION>NPRM</TTBL_ACTION>
                <TTBL_DATE>06/00/2010</TTBL_DATE>
            </TIMETABLE>
        </TIMETABLE_LIST>
        <RFA_REQUIRED>Undetermined</RFA_REQUIRED>
        <GOVT_LEVEL_LIST>
            <GOVT_LEVEL>Undetermined</GOVT_LEVEL>
        </GOVT_LEVEL_LIST>
        <FEDERALISM>Undetermined</FEDERALISM>
        <PRINT_PAPER>No</PRINT_PAPER>
        <INTERNATIONAL_INTEREST>No</INTERNATIONAL_INTEREST>
        <AGENCY_CONTACT_LIST>
            <CONTACT>
                <FIRST_NAME>Jeffrey</FIRST_NAME>
                <LAST_NAME>Turner</LAST_NAME>
                <MIDDLE_NAME>J.</MIDDLE_NAME>
                <TITLE>Director, Office of Regulations and Interpretations</TITLE>
                <AGENCY>
                    <CODE>1210</CODE>
                    <NAME>Employee Benefits Security Administration</NAME>
                    <ACRONYM>EBSA</ACRONYM>
                </AGENCY>
                <PHONE>202 693-8500</PHONE>
                <EMAIL>turner.jeffery@dol.gov</EMAIL>
                <MAILING_ADDRESS>
                    <STREET_ADDRESS>N 5669, 200 Constitution Avenue NW, FP Building, Room N-5655,</STREET_ADDRESS>
                    <CITY>Washington</CITY>
                    <STATE>DC</STATE>
                    <ZIP>20210</ZIP>
                </MAILING_ADDRESS>
            </CONTACT>
        </AGENCY_CONTACT_LIST>
    </RIN_INFO>
</REGINFO_RIN_DATA>
