The DOL has released proposed regulations providing guidance on the statutory exemption under Sections 408(b)(14) and 408(g) on the provision of investment advice.
Document Excerpt
This document contains proposed regulations implementing the provisions of the statutory exemption set forth in sections 408(b)(14) and 408(g) of the Employee Retirement Income Security Act, as amended (ERISA or the Act), and parallel provisions in the Internal Revenue Code of 1986, as amended (Code), relating to the provision of investment advice described in the Act by a fiduciary adviser to participants and beneficiaries in participant-directed individual account plans, such as 401(k) plans, and beneficiaries of individual retirement accounts (and certain similar plans).
Link http://www.dol.gov/federalregister/PdfDisplay.aspx?DocId=21240
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