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2018-02-07
article
Best Interest Contract Exemption
Part V
Rules and Regulations
D09002ee1bdc1d1ad
D09002ee1bdc1d2a8
United States
Department of Labor
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org
United States Government Agency or Subagency
United States
Employee Benefits Security Administration
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United States Government Agency or Subagency
This document contains an exemption from certain prohibited transactions provisions of the Employee Retirement Income Security Act of 1974 (ERISA) and the Internal Revenue Code (the Code). The provisions at issue generally prohibit fiduciaries with respect to employee benefit plans and individual retirement accounts (IRAs) from engaging in self-dealing and receiving compensation from third parties in connection with transactions involving the plans and IRAs. The exemption allows entities such as registered investment advisers, broker-dealers and insurance companies, and their agents and representatives, that are ERISA or Code fiduciaries by reason of the provision of investment advice, to receive compensation that may otherwise give rise to prohibited transactions as a result of their advice to plan participants and beneficiaries, IRA owners and certain plan fiduciaries (including small plan sponsors). The exemption is subject to protective conditions to safeguard the interests of the plans, participants and beneficiaries and IRA owners. The exemption affects participants and beneficiaries of plans, IRA owners and fiduciaries with respect to such plans and IRAs.
81 FR 21002
https://www.govinfo.gov/app/details/FR-2016-04-08/2016-07925
2016-07925
fr08ap16-16
4510-29-P
Application No. D-11712
https://www.govinfo.gov/app/details/FR-2016-04-08/2016-07925
https://www.govinfo.gov/content/pkg/FR-2016-04-08/html/2016-07925.htm
https://www.govinfo.gov/content/pkg/FR-2016-04-08/pdf/2016-07925.pdf
88 p.
21002
21089
81 FR 21002
Code of Federal Regulations
Title 29 Part 2550
29 CFR Part 2550
Best Interest Contract Exemption; Federal Register Vol. 81, Issue
RULE
2016-07925
V
DEPARTMENT OF LABOR
Employee Benefits Security Administration
Application No. D-11712
4510-29-P
2016-07925
Adoption of Class Exemption.
This document contains an exemption from certain prohibited transactions provisions of the Employee Retirement Income Security Act of 1974 (ERISA) and the Internal Revenue Code (the Code). The provisions at issue generally prohibit fiduciaries with respect to employee benefit plans and individual retirement accounts (IRAs) from engaging in self-dealing and receiving compensation from third parties in connection with transactions involving the plans and IRAs. The exemption allows entities such as registered investment advisers, broker-dealers and insurance companies, and their agents and representatives, that are ERISA or Code fiduciaries by reason of the provision of investment advice, to receive compensation that may otherwise give rise to prohibited transactions as a result of their advice to plan participants and beneficiaries, IRA owners and certain plan fiduciaries (including small plan sponsors). The exemption is subject to protective conditions to safeguard the interests of the plans, participants and beneficiaries and IRA owners. The exemption affects participants and beneficiaries of plans, IRA owners and fiduciaries with respect to such plans and IRAs.
Issuance date: This exemption is issued June 7, 2016.
Brian Shiker or Susan Wilker, Office of Exemption Determinations, Employee Benefits Security Administration, U.S. Department of Labor, (202) 693-8824 (this is not a toll-free number).
Best Interest Contract Exemption
,
e-BICE@dol.gov
http://finra.complinet.com/en/display/display_main.html?rbid=2403&element_id=1660
http://www.finra.org/industry/finra-rule-2210-questions-and-answers
http://www.finra.org/sites/default/files/InvestorDocument/p125846.pdf
http://www.justice.gov/sites/default/files/usao-dc/legacy/2014/07/14/Laffey%20Matrix_2014-2015.pdf
http://www.naic.org/documents/committees_a_suitability_reg_guidance.pdf
http://www.RegInfo.gov
https://www.fdic.gov/regulations/resources/financial/
https://www.finra.org/investors/alerts/equity-indexed-annuities_a-complex-choice
https://www.sec.gov/investor/alerts/secindexedannuities.pdf
https://www.sec.gov/news/studies/2011/913studyfinal.pdf
www.dol.gov/ebsa
www.dol.gov/ebsa/pdf/labor-cost-inputs-used-in-ebsa-opr-ria-and-pra-burden-calculations-march-2016.pdf
www.sec.gov/rule/final/2007/34-56502.pdf
www.sec.gov/rules/final/2007/34-56501.pdf
Federal Register
Vol. 81, no. 68
Office of the Federal Register, National Archives and Records Administration
2016-04-08
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708 p.
Table of Contents:
AE 2.7:
GS 4.107:
AE 2.106:
KF70.A2
https://www.govinfo.gov/app/details/FR-2016-04-08
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0097-6326
0042-1219
0364-1406
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000582072
f:fr08ap16
https://www.govinfo.gov/app/details/FR-2016-04-08
https://www.govinfo.gov/content/pkg/FR-2016-04-08/pdf/FR-2016-04-08.pdf
https://www.govinfo.gov/content/pkg/FR-2016-04-08/xml/FR-2016-04-08.xml
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2018-02-07
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