{"id":5359,"date":"2021-03-05T08:40:19","date_gmt":"2021-03-05T13:40:19","guid":{"rendered":"http:\/\/therosenbaumlawfirm.com\/blog\/?p=5359"},"modified":"2021-03-05T08:40:19","modified_gmt":"2021-03-05T13:40:19","slug":"biden-administration-to-implement-trump-fiduciary-rule","status":"publish","type":"post","link":"http:\/\/therosenbaumlawfirm.com\/blog\/?p=5359","title":{"rendered":"Biden administration to implement Trump Fiduciary Rule"},"content":{"rendered":"\n<p>In what I consider a surprise move, the Department of Labor (DOL) announced that it will allow a Trump-era exemption for investment advice fiduciaries to move forward.<\/p>\n\n\n\n<p>The rule entitled \u201cImproving Investment Advice for Worker &amp; Retirees,\u201d an exemption for investment advice fiduciaries, will go into effect as scheduled. In the coming days, the agency will publish related guidance for retirement investors, employee benefit plans and investment advice providers.<\/p>\n\n\n\n<p>The Trump administration replacement rule has two main parts: a new&nbsp;prohibited transaction exemption&nbsp;allowing advisors to provide conflicted advice for commissions; and a reinstatement of the \u201cfive-part test\u201d from 1975 to determine what constitutes investment advice.<\/p>\n<p><span class='st_sharethis' st_title='{title}' st_url='{url}' displayText='ShareThis'><\/span><\/p>","protected":false},"excerpt":{"rendered":"<p>In what I consider a surprise move, the Department of Labor (DOL) announced that it will allow a Trump-era exemption for investment advice fiduciaries to move forward. The rule entitled \u201cImproving Investment Advice for Worker &amp; Retirees,\u201d an exemption for &hellip; <a href=\"http:\/\/therosenbaumlawfirm.com\/blog\/?p=5359\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n<p><span class='st_sharethis' st_title='{title}' st_url='{url}' displayText='ShareThis'><\/span><\/p>","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"_links":{"self":[{"href":"http:\/\/therosenbaumlawfirm.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/5359"}],"collection":[{"href":"http:\/\/therosenbaumlawfirm.com\/blog\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/therosenbaumlawfirm.com\/blog\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/therosenbaumlawfirm.com\/blog\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/therosenbaumlawfirm.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5359"}],"version-history":[{"count":1,"href":"http:\/\/therosenbaumlawfirm.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/5359\/revisions"}],"predecessor-version":[{"id":5360,"href":"http:\/\/therosenbaumlawfirm.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/5359\/revisions\/5360"}],"wp:attachment":[{"href":"http:\/\/therosenbaumlawfirm.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5359"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/therosenbaumlawfirm.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5359"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/therosenbaumlawfirm.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5359"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}