IM Coffee Chat - Session Thirteen: ERISA’s Five-Part Investment Advice Test - The DOL Changes Course
Date: April 21, 2021
Time: 10:30 a.m. - 11:00 a.m. ET
Contact: Elise.Hoffer@ThompsonHine.com, 513.352.6748
A complimentary webinar presented by Thompson Hine LLP
Join us for a mid-morning break each Wednesday to chat about hot topics and trends relevant to your business. Our concise and practical discussions will focus on a variety of developments that impact financial service industries, and we’ll offer insights and considerations that will certainly be of interest to you.
Wednesday, April 21
10:30 – 11:00 a.m. ET
Session Thirteen: ERISA’s Five-Part Investment Advice Test - The DOL Changes Course
In this session of our Coffee Chat series, we will examine the Department of Labor’s (DOL) recently updated parameters for determining when a person provides investment advice triggering ERISA fiduciary status as outlined in its five-part test. We will also delve into how the DOL’s interpretation of the five-part test has changed with respect to rollover recommendations and when investment professionals providing such recommendations become ERISA fiduciaries. Finally, we will discuss the availability of a new prohibited transaction exemption (PTE) to address the inherent conflicts of interest that arise when rollover recommendations rise to the level of investment advice.
We will discuss the following topics:
- Background on the five-part test
- The DOL’s past treatment of rollover recommendations
- The DOL’s revised view
- The new PTE and its application to rollover recommendations
- Possible future related action by the DOL
Upcoming program in this series (you must register separately for each):
- Thursday, April 29* – The Current State of Private Equity featuring Anthony Scaramucci
*Please note the date change for this upcoming session.
Contact Elise Hoffer