The technical clarifications DOL issued in early July addressed whether insurance companies can use the best interest contract exemption as well as principal transaction exemption clarifications. (thinkadvisor.com)
In some cases, previously granted exemptions were revoked or were narrowed in scope, with the aim that investment advice fiduciaries would rely primarily on the BIC Exemption and Principal Transactions Exemption when they provided advice to retirement investors in the retail marketplace. (federalregister.gov)
We also counsel clients on complex employee benefit plan issues, including an entity's fiduciary status under ERISA and on obtaining advisory opinions and prohibited transaction exemptions from the Department of Labor. (carltonfields.com)