On April 23, 2024, the Department of Labor (DOL) released a final version of its regulatory package on fiduciary investment advice ("Final Package"). The Final Package includes an amendment to the regulation defining who is a "fiduciary" under section 3(21) of ERISA and section 4975(e...
On April 8, 2024, a group of ICI staff participated in a telephone meeting with representatives from the White House's Office of Management and Budget (OMB) and the Department of Labor (DOL) to discuss DOL's fiduciary investment advice package.
On January 18, 2024, Robinhood Financial LLC settled charges brought by the Massachusetts Securities Division in connection with an August 2023 Massachusetts Supreme Judicial Court decision upholding a Massachusetts rule, finalized in 2020, that imposes a fiduciary duty on broker...
On January 2, 2024, ICI submitted a letter to the Department of Labor (DOL) commenting on its recent regulatory package on fiduciary investment advice ("Proposal"). The Proposal includes proposed amendments to the regulation defining who is a "fiduciary" under section 3(21) of ERISA...
On October 31, 2023, the Department of Labor (DOL) released its long-awaited new regulatory package on fiduciary investment advice. The package includes a proposal to amend the regulation defining who is a "fiduciary" under section 3(21) of ERISA and section 4975(e)(3) of the Internal...
