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2016-07-09
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Best Interest Contract Exemption; Correction
Rules and Regulations
D09002ee1bdc1778d
D09002ee1bdc1780a
United States
Department of Labor
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United States Government Agency or Subagency
United States
Employee Benefits Security Administration
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United States Government Agency or Subagency
This document makes technical corrections to the Department of Labor's Best Interest Contract Exemption, which was published in the Federal Register on April 8, 2016. The Best Interest Contract Exemption allows certain persons that are fiduciaries under the Employee Retirement Income Security Act of 1974 (ERISA) or the Internal Revenue Code (the Code), or both, by reason of providing investment advice, to receive compensation that may otherwise be prohibited. The corrections in this document fix typographical errors, make minor clarifications to provisions that might otherwise be confusing, and confirm insurers' broad eligibility to rely on the exemption, consistent with the exemption's clearly intended scope and the analysis and data relied upon in the Department's final regulatory impact analysis (RIA).
81 FR 44773
https://www.govinfo.gov/app/details/FR-2016-07-11/2016-16355
2016-16355
fr11jy16-8
4510-29-P
Application No. D-11712
Prohibited Transaction Exemption 2016-01
https://www.govinfo.gov/app/details/FR-2016-07-11/2016-16355
https://www.govinfo.gov/content/pkg/FR-2016-07-11/html/2016-16355.htm
https://www.govinfo.gov/content/pkg/FR-2016-07-11/pdf/2016-16355.pdf
12 p.
44773
44784
81 FR 44773
Code of Federal Regulations
Title 29 Part 2550
29 CFR Part 2550
Best Interest Contract Exemption; Correction; Federal Register Vol. 81, Issue
RULE
2016-16355
DEPARTMENT OF LABOR
Employee Benefits Security Administration
Application No. D-11712
Prohibited Transaction Exemption 2016-01
4510-29-P
2016-16355
Technical corrections.
This document makes technical corrections to the Department of Labor's Best Interest Contract Exemption, which was published in the Federal Register on April 8, 2016. The Best Interest Contract Exemption allows certain persons that are fiduciaries under the Employee Retirement Income Security Act of 1974 (ERISA) or the Internal Revenue Code (the Code), or both, by reason of providing investment advice, to receive compensation that may otherwise be prohibited. The corrections in this document fix typographical errors, make minor clarifications to provisions that might otherwise be confusing, and confirm insurers' broad eligibility to rely on the exemption, consistent with the exemption's clearly intended scope and the analysis and data relied upon in the Department's final regulatory impact analysis (RIA).
Issuance date: These technical corrections are issued July 11, 2016, without further action or notice.
Brian Shiker or Susan Wilker, Office of Exemption Determinations, Employee Benefits Security Administration, U.S. Department of Labor, (202) 693-8824 (this is not a toll-free number).
Prohibited Transaction Exemptions:
Best Interest Contract Exemption; Correction
,
e-BICE@dol.gov
http://www.naic.org/store/free/MDL-822.pdf
https://www.dol.gov/ebsa/pdf/conflict-of-interest-ria.pdf
Federal Register
Vol. 81, no. 132
Office of the Federal Register, National Archives and Records Administration
2016-07-11
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230 p.
Table of Contents:
AE 2.7:
GS 4.107:
AE 2.106:
KF70.A2
https://www.govinfo.gov/app/details/FR-2016-07-11
P0b002ee1903785f5
0097-6326
0042-1219
0364-1406
769-004-00000-9
000582072
f:fr11jy16
https://www.govinfo.gov/app/details/FR-2016-07-11
https://www.govinfo.gov/content/pkg/FR-2016-07-11/pdf/FR-2016-07-11.pdf
https://www.govinfo.gov/content/pkg/FR-2016-07-11/xml/FR-2016-07-11.xml
fdlp
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DGPO
2016-07-09
2023-04-29
FR-2016-07-11
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FR-2016-07-11
81
132