The U.S. Department of Labor’s Employee Benefits Security Administration in Field Assistance Bulletin 2007-1 has issued guidance on the statutory exemption for investment advice provided under the Pension Protection Act of 2006 (PPA).
BACKGROUND
Provisions of ERISA and the Internal Revenue Code prohibit a fiduciary giving investment advice from using its authority, control or responsibility to cause itself to receive additional fees. As a result, employers have raised questions about their responsibilities in offering investment advice programs. Attorney Howard S. Denburg writes about the guidance that the Employee Benefits Security Administration has issued on the statutory exemption for investment advice provided under the Pension Protection Act.
March 26, 2007 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
The U.S. Department of Labor’s Employee Benefits Security Administration in Field Assistance Bulletin 2007-1 has issued guidance on the statutory exemption for investment advice provided under the Pension Protection Act of 2006 (PPA).
BACKGROUND
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