DOL’s ERISA Fiduciary Rules: Addressing Challenges and Considerations for Employers
Earlier this year, the Department of Labor (DOL) has released its much awaited final rule that redefines and expands the definition of "investment advice fiduciary" under the Employee Retirement Income Security Act of 1974 (ERISA) and Individual Retirement Accounts (IRAs). The final rule modifies the prohibited transaction exemptions for investment activities that will allow certain broker-dealers and insurance agents to continuously receive a variety of common forms of compensation as long as they adhere to standards aimed to ensure that their advice is impartial and in the best interest of their customers. The new regulations which contain several important concessions to the industry that may greatly impact broker-dealers and insurers became effective last June 7, 2016 and will be applicable on April 10, 2017.
In this LIVE Webcast, a panel of thought leaders and professionals brought together by The Knowledge Group will provide a comprehensive overview of the fundamentals as well as recent developments with respect to DOL’s ERISA Fiduciary Rules and its significant impact on broker-dealers and insurers. Speakers will address legal challenges and considerations with regards to this significant topic.
Key topics include:
- Overview of DOL’s ERISA New Fiduciary Rules
- Contrast With ERISA Statutory Structure
- Key Features of New Fiduciary Rule
- Parameters of “recommendation” and “investment advice”
- Annuity Issues
- IRA Issues
- BIC Exemption
- Best Interest Standard
- Reasonable Compensation Questions
- Prohibited Transaction Exemption 84-24
- Insurance Agent Issues
- Broker-Dealer Issues
- Proprietary Product Problems
- Prohibited Transaction Exemptions Requirements
- Pending Court Actions and Issues
Gordon Rees Scully Mansukhani, LLP
Funk & Bolton, P.A.
- Learn how the DOL proposes to change the definition of fiduciary under ERISA
- Learn what constitutes investment advice and recommendation
- Get a grip on the difference between fiduciary and suitability standards
- Learn about the legal challenges to the DOL regulations
- Learn how insurance agents can still sell annuities
- Learn about the BIC exemption
- Learn how the DOL proposes to regulate IRAs
Who Should Attend:
- ERISA Class Action Lawyers
- Legal Advisers
- Class Action Counsel
- Legal Counsel
- Private and Public Companies
- Insurance Officers
- Employee Benefits Lawyers
- Retirement Plan Consultants and Specialists
- Benefits Administrators
Susan L. Meter is senior counsel in the San Diego and Los Angeles offices who focuses on ERISA and employee benefit matters. Ms. Meter is a seasoned ERISA litigator who has spent her entire legal career focusing on ERISA/Employee Benefits litigation involving plan sponsors, fiduciaries, service providers, insurers, and others involved in employee benefits plan in numerous industries, such as financial services; insurance; nonprofit, governmental; retail; technology and manufacturing.
Ms. Meter has litigated matters ranging from class actions to single-plaintiff suits related to welfare and pension benefits involving issues such as excessive fee litigation, stock drop, breach of fiduciary duty, prohibited transactions, claims for benefits, and ERISA section 510 whistle blower claims. She has successfully resolved many benefit claims and breach of fiduciary duty claims, has argued in front of the Ninth Circuit Court of Appeals, and has tried ERISA cases.
Susan L. Meter is senior counsel in the San Diego and Los Angeles offices who focuses on ERISA and employee …
Bryan D. Bolton is a founding member of the Baltimore based law firm Funk & Bolton, P.A. He is a frequent speaker and author on ERISA matters, including Department of Labor regulations. He regularly represents broker-dealers, registered representatives, financial planners, and annuity providers in federal court, state court, regulatory proceedings, as well as in arbitration and mediation. Mr. Bolton’s extensive appellate experience includes briefing in the United States Courts of Appeals for the Second, Third, Fourth and District of Columbia Circuits, as well as the Supreme Court of the United States. Mr. Bolton is a member of the Maryland and Pennsylvania bars. Mr. Bolton is included in the Bar Register of Preeminent Lawyers, Maryland Super Lawyers and the Best Lawyers in America.
Bryan D. Bolton is a founding member of the Baltimore based law firm Funk & Bolton, P.A. He is a …
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Method of Presentation:
Experience in employment law or ERISA law
NASBA Field of Study:
Auditing - Technical
NY Category of CLE Credit:
Areas of Professional Practice
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About Gordon Rees Scully Mansukhani, LLP
Gordon & Rees is a national litigation and business transactions firm with more than 700 lawyers in 38 offices across the United States. Our lawyers provide full service representation to public and private companies ranging from the Fortune 500 to start-ups. Founded in 1974, Gordon & Rees is recognized among the fastest growing and largest law firms in the country and continues to climb the ranks of both The AmLaw 200 and The National Law Journal. Additionally, in 2016 Law360 ranked the firm 53rd on its list of the largest U.S. firms and The American Lawyer ranked the firm at No. 39 on its Diversity Scorecard.
About Funk & Bolton, P.A.
Funk & Bolton, P.A. is a boutique Mid-Atlantic based law firm with extensive experience defending various parties in ERISA related litigation. The firm regularly represents broker-dealers, registered representatives, financial planners, and annuity providers in ERISA related matters, including arbitration and mediation. The firm’s extensive federal court practice is national in scope, but principally focuses on Maryland, Pennsylvania, Virginia and the District of Columbia.