The Department of Labor’s (DOL) Prohibited Transaction Exemption 2020-02 (PTE 2020-02) has been in effect since February 2021, allowing financial professionals to receive compensation for rollover recommendations providing that their advice meets a set of best interest requirements. The DOL’s grace period for enforcing specific documentation and disclosure requirements will end on June 30, 2022. […]
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The window for firms to meet compliance for PTE 2020-02 is getting shorter. In October 2021, the DOL stated that all proper processes need to be in place by January 31, 2022 and documentation and disclosure by June 30, 2022. InvestorCOM hosted a roundtable event “Preparing for PTE 2020-02” which facilitated a collaborative discussion with […]
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ON-DEMAND WEBINAR The SEC and DOL are continuing to focus on rollover recommendations and their impact on investors. The DOL’s Fiduciary Rule and PTE 2020-02 requirements, enforceable on December 21, 2021, will perhaps become the new industry standard going forward. Meet your rollover requirements with confidence. Access this on-demand webinar to hear our panel of […]
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December 20 is just around the corner, which means time is quickly running out to meet compliance for PTE 2020-02. In preparation for the looming deadline, InvestorCOM recently hosted a roundtable event “Preparing for PTE 2020-02” to address the industry’s questions and concerns, and to share approaches firms are taking to meeting compliance. One interesting insight […]
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ON-DEMAND WEBINAR The DOL and the SEC are increasingly focusing on rollover recommendations and their impact on investors. The DOL’s PTE 2020-02 expands the definition of fiduciary advice when recommending rollovers. While the SEC encourages documentation, the DOL makes documentation an explicit requirement of its proposed prohibited transaction exemption for fiduciary investment advice. Get ready […]
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