Video Highlights: Assessing the New DOL Fiduciary Rule

VIDEO HIGHLIGHTS

Stakeholders gathered in Washington, DC, on May 10, 2016, to discuss ramifications of a new rule released by the U.S. Department of Labor (DOL) expanding the universe of service providers that are considered fiduciaries when offering investment advice to a retirement plan, plan participant, or individual retirement account (IRA) owner.

Timothy Hauser, deputy assistant secretary for program operations at the DOL, gave remarks and then answered audience questions as part of the conference’s opening session. Topics at the day’s panel discussions included:

• Implications for America’s retirement system of a new fiduciary paradigm
• Legal and interpretive issues facing funds
• Challenges for fund distribution
• Operational concerns for funds and intermediaries in the rule and its exemptions
• Implementation timeline and impact on existing service arrangements

See below for videos from the day’s sessions.

Welcome and Opening Remarks

Paul Schott Stevens
President and CEO
Investment Company Institute

Remarks and Q&A Session

Timothy D. Hauser
Deputy Assistant Secretary for Program Operations
Employee Benefits Security Administration (EBSA)
U.S. Department of Labor

Jon Breyfogle, Moderator
Executive Principal
Groom Law Group

Fund Distribution Under New Fiduciary Paradigm

John McDonough, Moderator
President and Head of Distribution
OppenheimerFunds Distributor, Inc.

Yaqub Ahmed
Senior Vice President
Head of Defined Contribution–U.S.
Franklin Templeton Investments

Dan R. Kleinman
Partner
Morgan, Lewis & Bockius LLP

Joseph Lai
Associate Partner
McKinsey & Company, Inc.

Legal and Interpretive Challenges of the New Fiduciary Rules

Jason Bortz, Moderator
Associate Counsel and Vice President
Capital Research and Management Company

Bradford P. Campbell
Counsel
Drinker Biddle & Reath LLP

Douglas O. Kant
Senior Vice President and Deputy General Counsel
Fidelity Investments

Margaret H. Raymond
Vice President and Associate Managing Counsel
T. Rowe Price Associates, Inc.

Operational Implications of Fiduciary Rules

Anthony Palermo, Moderator
Vice President and Senior Operations Relationship Manager
American Funds

Stuart J. Bateman
Senior Vice President
Franklin Templeton Investments

Michele Coletti
Senior Vice President
Mid Atlantic Capital Group, Inc.

Robert H. Dearman Jr.
Vice President
Jackson National/National Planning Holdings