Labour market · 20/04/2015

DOL Proposes Amendment to PTE 75-1, Allowing Investment Advice Fiduciaries to Receive Compensation for Extending Credit to Employee Benefit Plans and IRAs

The Department of Labor has proposed an amendment to PTE 75-1, which would permit investment advice fiduciaries to receive compensation when extending credit to employee benefit plans and IRAs to avoid failed securities transactions, affecting plan participants, beneficiaries, IRA owners, and fiduciaries.