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DOL/EBSA RIN: 1210-AB82 Publication ID: Spring 2019 
Title: Fiduciary Rule and Prohibited Transaction Exemptions 

The Department of Labor in 1975 issued a regulation defining who is a "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.

Agency: Department of Labor(DOL)  Priority: Other Significant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Proposed Rule Stage 
Major: No  Unfunded Mandates: No 
EO 13771 Designation: Deregulatory 
CFR Citation: Not Yet Determined     (To search for a specific CFR, visit the Code of Federal Regulations.)
Legal Authority: 29 U.S.C. 1002 (21)    29 U.S.C. 1108   
Legal Deadline:  None
Action Date FR Cite
Request for Information (RFI)  07/06/2017  82 FR 31278   
RFI Comment Period End  08/08/2017 
NPRM  12/00/2019 
Regulatory Flexibility Analysis Required: Undetermined  Government Levels Affected: None 
Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Related RINs: Related to 1210-AB79, Related to 1210-AB32 
Agency Contact:
Karen E. Lloyd
Office of Regulations and Interpretations
Department of Labor
Employee Benefits Security Administration
200 Constitution Avenue NW, FP Building, Room N-5655,
Washington, DC 20210
Phone:202 693-8510