Director, Office of Regulations and Interpretations

1210-AB32 201504 Unified Agenda of Federal Regulatory and Deregulatory Actions 1210 Employee Benefits Security Administration EBSA 1200 Department of Labor DOL Conflict of Interest Rule-Investment Advice

This rulemaking would reduce harmful conflicts of interest by amending the regulatory definition of the term "fiduciary" set forth at 29 CFR 2510.3-21(c) to more broadly define as fiduciaries those persons who render investment advice to plans and IRAs for a fee within the meaning of section 3(21) of the Employee Retirement Income Security Act (ERISA) and section 4975(e)(3) of the Internal Revenue Code. The amendment would take into account current practices of investment advisers, and the expectations of plan officials and participants, and IRA owners who receive investment advice, as well as changes that have occurred in the investment marketplace, and in the ways advisers are compensated that frequently subject advisers to harmful conflicts of interest.

]]> Economically Significant Previously Published in The Unified Agenda Proposed Rule Stage Yes Private Sector 29 CFR 2510.3-21(c) 29 U.S.C. 1002 ERISA sec 3(21) 29 U.S.C. 1135 ERISA sec 505 No NPRM 10/22/2010 75 FR 65263 NPRM Comment Period End 01/20/2011 Second NPRM 04/20/2015 80 FR 21928 Second NPRM Comment Period End 07/06/2015 Undetermined Undetermined No No No Jeffrey Turner J. Director, Office of Regulations and Interpretations 1210 Employee Benefits Security Administration EBSA 202 693-8500 turner.jeffery@dol.gov N 5669, 200 Constitution Avenue NW, FP Building, Room N-5655, Washington DC 20210