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Final Fiduciary Regulations, Part 1: Who is a Fiduciary Advisor?
Presentor: David Schultz Recorded Date: 5/26/2016 Duration: 60 Min.

This program was recorded during a live presentation given on May 26, 2016 at 12:00PM EST.

The Department of Labor released the final regulations that redefine and expand what it means to be an investment advice fiduciary. The regulation primarily impacts financial professionals; however, plan administrators and TPAs will need to understand the implications of the new rule and how it may impact their business model, and that of the financial professionals with whom they work. This session will examine the key provisions of the final regulation.

Topics include:

  • An overview and history of the of the proposed regulations
  • The definition of “investment advice” and the types of recommendations that give rise to fiduciary status
  • The types of communications that are not recommendations under the final regulation
  • A detailed discussion of the forms of “education” that are excluded under the final regulation

Note: Part 2 of this program will cover the new Best Interest Contact Exemption (the “BIC”) and other prohibited transaction exemptions impacted by the regulatory package.


There are no prerequisites or other advanced preparation for this program. Attendees should have one year of experience.

Level: Overview. The speaker will assume attendees have a basic familiarity with the elective deferral procedures and EPCRS.

Instructional Delivery Method
Group – Internet-Based

NASBA Field of Study: Taxes

Speaker: David Schultz, J.D.

Objectives: After attending this Web seminar, an attendee should be able to:

  • Determine the types of advice that can give rise to status as a fiduciary investment advisor
  • Distinguish the types of communications that are “recommendations”
  • Recognize the types of compensation that are covered by the regulations
  • Recognize the forms of communication that are excluded from the regulation

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