Applicability Date: Definition of the Term “Fiduciary”; Conflict of Interest Rule
This final rule defines who is a “fiduciary” of an employee benefit plan under the Employee Retirement Income Security Act of 1974 (ERISA or the Act) as a result of giving investment advice to a plan or its participants or beneficiaries. The final rule also applies to the definition of a “fiduciary” of a plan (including an individual retirement account (IRA)) under the Internal Revenue Code of 1986 (Code). The final rule treats persons who provide investment advice or recommendations for a fee or other compensation with respect to assets of a plan or IRA as fiduciaries in a wider array of advice relationships. Read more here.
*NOTE 1* This changed pursuant to a recent extension. Read more here.
*NOTE 2* Proposal to extend this until July 1, 2019. Read more here.
- June 9, 2017
- Time: All Day
Other events in Regulatory News
- 05/11/2018: Mandatory Compliance: Customer Due Diligence Requirements (Beneficial Owners)
- 06/01/2018: SAR Update and Revision
- 06/30/2018: Effective Date: Revisions to Call Report
- 07/01/2018: Mandatory Compliance: OCC Guidelines Establishing Standards for Recovery Planning
- 07/01/2018: Effective Date: Final Amendments to Regulation CC
- 10/01/2018: Mandatory Compliance: Final Amendments to TRID
- 01/01/2019: Effective Date: HMDA Final Rule (third)
- 04/01/2019: Effective Date: Prepaid Accounts under EFTA/TILA
- 12/15/2019: Effective Date: New Accounting Standard on Financial Instruments - Credit Losses
- 01/01/2020: Effective Date: HMDA Final Rule (fourth)
- 12/15/2020: Effective Date: New Accounting Standard on Financial Instruments - Credit Losses
- 01/01/2022: Effective Date: Amendments to ECOA/Regulation B Ethnicity and Race Information