DOL Digest August 1, 2016

SSN Marketing Compliance, DOL

When it Comes to Conflicted Compensation, It’s All About That BICE With apologies to pop singer Megan Trainor, when it comes to receiving differential or non-level compensation under the Department of Labor’s (DOL) new fiduciary rule, it really is “all about that BICE.” The Best Interest Contract Exemption (BICE) is a prohibited transaction exemption within the new fiduciary rule that …

DOL Fiduciary Rule Advances to OMB

SSN Marketing Corporate Office, DOL

DOL Fiduciary Rule Advances to OMB By Doug Baxley, Vice President of Compliance Late on Thursday, January 28, the Department of Labor (DOL) took the next step in advancing their Fiduciary Rule proposal.  The controversial rule proposal was sent to the Office of Management and Budget (OMB) for a final review.  The OMB has up to 90 days to review the rule; …

DOL Updates

SSN Marketing Corporate Office, DOL

DOL Updates By Doug Baxley, AVP – Assistant Director of Compliance On April 20, 2015, the Department of Labor (DOL) published its proposed rule regarding retirement investment advice, conflicts of interest, and the definition of the term “fiduciary” with regards to the Employee Retirement Income Security Act of 1974 (ERISA). The proposed rule would institute a broad new definition of the …