DOL Recent Amendment to the QPAM Exemption: Key Provisions and Challenges for Asset Managers and ERISA Plan Sponsors

Employee Benefits and Executive Compensation partner David Olstein will be speaking during Strafford’s The New DOL Fiduciary Rule: Key Provisions and Challenges for Counsel, Advisers, and their Clients Webinar on 26 June at 1:00 p.m. – 2:30 p.m. EDT.

The DOL's fiduciary rule has undergone many revisions and challenges over the last few years, creating a level of uncertainty in determining fiduciary status. Counsel and advisers must understand the challenges associated with the most recent rendition of the fiduciary rules under ERISA and the Internal Revenue Code and methods to ensure compliance.

On 23 April 2024, the DOL released a final regulation modifying the definition of "investment advice fiduciary" under ERISA and the Internal Revenue Code, as well as final amendments to certain related prohibited transaction class exemptions. Benefits counsel must understand the impact of the DOL's new fiduciary rule on retirement plan sponsors, advisers, and financial services providers to advise their clients on compliance and implementation best practices.

Listen as our panel discusses recent court decisions that significantly impact the application of the DOL fiduciary rule, courts' application of the five-part test to determine fiduciary status, and key considerations for financial advisers and plan sponsors.

The panel will discuss these and other key issues:

  • Unpacking the DOL fiduciary rule and key issues for advisers
  • The new definition of ”investment advice fiduciary” and its exclusions
  • Exemptions from the prohibited transaction provisions of ERISA and the Internal Revenue Code
  • Compliance planning tactics

For more information, please click here


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