ERISA: Today and Tomorrow
In April 2014 the US Department of Labor (DOL) proposed sweeping changes to the ERISA definition of “fiduciary” that would make many advisers, brokers, and insurance agents fiduciaries to pension plans and IRAs. After a lengthy comment period, congressional hearings, and a second comment period, the financial services industry is waiting to see what the DOL’s final rules will look like.
After Congressional efforts to defund the implementation of the proposed rules stalled out, many observers have determined that some version of the proposed rules is likely to be rolled out in 2016. If your firm provides financial services to pension plans or IRAs, consideration of the impact of the proposed rules should be part of your strategic planning for 2016 and beyond.
This panel will bring together industry experts to review the current definition of fiduciary, the proposed changes, and the impact the proposed changes may have on your business. The panel will include attorneys who have been in discussions with the DOL and can discuss their impressions of what the DOL is currently thinking. These panelists will also discuss the response from industry and what your peers are doing to prepare for the changes that may lie ahead.
After attending this course, attendees should be able to:
- Understand current and proposed definitions of “fiduciary”
- Explain to business partners how the proposed changes might affect the way firms provide services to pension plans and IRAs
- Determine if action should be taken now to prepare for these proposed changes
For whom: Designed to increase the professional competence of investment adviser professionals with legal, compliance and management responsibilities, along with persons who provide financial services to pension plans and IRAs.
Suggested Skill Level: Intermediate
Instructional Method: Group Internet-Based
Prerequisites for participation: No prerequisites are required.
Advance Preparation: None
Continuing Education Credits:
See NRS Continuing Education Guide
Recommended CPE Credit: 2 in the Regulatory Ethics field of study
Recommended IACCP® CE Credit: 2
Recommended CA MCLE Credit: 2
Recommended CFP® Credit: 2 (pending approval)