Proposal to Amend Retirement Security Rule: Definition of an Investment Advice Fiduciary
Updated 01/10/2024
This tool summarizes the IRS Proposed Rule on amending the Retirement Security Rule Definition of an Investment Advice Fiduciary. The following are the key takeaways of the changes:
- Amends the current definition of investment advice fiduciary to include financial services providers upon meeting certain conditions as outlined in the Proposed Rule.
- Amends certain class prohibited transaction exemptions (PTEs) available to investment advice fiduciaries to address the proposed change to the definition of investment advice fiduciary.
Members Can Download This Tool
Login to Download
Not Yet a Member?
Our members enjoy:
On-demand regulatory guidance hotline – by chat, phone and email – available from anywhere, on any device – 7 am - 6 pm, M-F, Central time
Research time saved daily & weekly across forms, checklists, and trainings — for every regulation
Hours of form-building and branding of bank documents saved; in some cases, even the budget of additional staff
A sounding board for support and reassessment when institutional goals or the regulatory environment changes
Access to attorneys and compliance specialists for risk modelling and decision-making in advance of large business decisions
The knowledge that C/A was created and owned by 30 State Bankers Association to provide bank compliance services to their membership organizations
Find out how a personalized team of attorneys and compliance professionals helps build targeted compliance strategies throughout your institution when you take our Live Membership Demo.