Surprise! – Biden Administration allows Trump Fiduciary Rewrite to Move Forward

Topics: DOL, Fiduciary, rollovers, Standards of conduct

What happened In a surprise development, the Biden Administration’s Department of Labor decided to allow the Trump Administration’s fiduciary rewrite to go into effect. , which means the new prohibited transaction exemption for fiduciary investment advice became available for use on February 16th. In addition, because the Biden Administration made no changes, it is also…