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The new final regulation defining what it means to be an investment advice fiduciary contains the “Best Interest Contract (BIC) prohibited transaction exemption (PTE), which will allow “conflicted compensation” to be paid if the terms of the BIC exemption are met. While less complicated than the 2015 proposed BIC, the final rule imposes a number of significant requirements on financial professionals. This session will review the BIC, along with its requirements and limitations. In addition, this session will cover concurrent changes to other PTEs that can impact financial professionals and plan administrators.
Topics include:
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 the program you should be able to:
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