The DOL issues a proposed Class Exemption which would permit the provision of investment advice by a fiduciary adviser.
Document Excerpt
This document contains a notice of pendency before the Department of Labor (Department) of a proposed class exemption from certain prohibited transaction restrictions of the Employee Retirement Income Security Act of 1974, as amended (ERISA, or the Act), and from certain taxes imposed by the Internal Revenue Code of 1986, as amended (Code).
Link http://www.dol.gov/federalregister/PdfDisplay.aspx?DocId=21241
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