1210-AB82 201810 The Regulatory Plan and the Unified Agenda of Federal Regulatory and Deregulatory Actions 1210 Employee Benefits Security Administration EBSA 1200 Department of Labor DOL Fiduciary Rule and Prohibited Transaction Exemptions

The Department of Labor in 1975 issued a regulation defining who is "fiduciary" under section 3(21)(A)(ii) of the Employee Retirement Income Security Act (ERISA) as a result of giving investment advice for a fee or other compensation.  On April 8, 2016, the Department replaced the 1975 regulation with a new regulatory definition.  The new regulatory definition was vacated in toto in Chamber of Commerce v. Department of Labor, 885 F.3d 360 (5th Cir. 2018).  The Department is considering regulatory options in light of the Fifth Circuit opinion.

]]> Other Significant Previously Published in The Unified Agenda Final Rule Stage No No Deregulatory Not Yet Determined 29 U.S.C. 1002 (ERISA sec. 3(21)) 29 U.S.C. 1108 (ERISA sec. 408) No Request for Information (RFI) 07/06/2017 82 FR 31278 RFI Comment Period End 08/08/2017 Final Rule 09/00/2019 Undetermined None No No No 1210-AB79 Related to 1210-AB32 Related to Karen Lloyd E. Office of Regulations and Interpretations 1210 Employee Benefits Security Administration EBSA 202 693-8510 lloyd.karen@dol.gov 200 Constitution Avenue NW, FP Building, Room N-5655, Washington DC 20210