View Rule
View EO 12866 Meetings | Printer-Friendly Version Download RIN Data in XML |
DOL/EBSA | RIN: 1210-AB82 | Publication ID: Fall 2019 |
Title: Fiduciary Rule and Prohibited Transaction Exemptions | |
Abstract:
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 |
||||||||||||
Timetable:
|
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 |