Edward A. Wodarczyk, Esq., ewodarczyk@tuckerlaw.com, (412) 594-3920
On June 29, the DOL proposed a new class exemption from the prohibited transaction rules for investment advice fiduciaries. If certain conditions are met, an investment advisor may receive reasonable compensation for providing investment advice while avoiding conflict of interest concerns. For a DOL explanation of its proposal, see DOL FAQs.