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ARTICLE · 10 MAY 2024

This Week From The Hill (May 5 - 11, 2024)

Groom Law Group, Chartered
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On April 23, DOL unveiled a final regulation defining "investment advice" and final amendments to important prohibited transaction exemptions ("PTEs"), including PTE 2020-02 and PTE 84-24.

United StatesEmployment and HR
Michael Kreps
Michael Kreps
Ryan Temme
Ryan Temme
Diana McDonald
Diana McDonald
Kevin Walsh
Kevin Walsh
Brigen Winters
Brigen Winters
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Each week while Congress is in session, our Policy team delivers a key update to highlight a topical benefits, health, or retirement news item from the Hill, such as a newly introduced bill, a summary of a committee hearing, or another hot-button matter.

On April 23, DOL unveiled a final regulation defining "investment advice" and final amendments to important prohibited transaction exemptions ("PTEs"), including PTE 2020-02 and PTE 84-24.

This package of policy changes – commonly referred to as the fiduciary rule – greatly expand the types of conduct that cause a person to become an advice fiduciary.

An overview of the advice definition and PTE amendments is available here, and Groom's complete archive of advice is located at our Investment Advice Hub.

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