Field Assistance Bulletin No. 2018-02: Temporary Enforcement Policy on Prohibited Transactions Rules Applicable to Investment Advice Fiduciaries

This document is about a temporary enforcement policy from the U.S. Department of Labor's Employee Benefits Security Administration. The policy states that the Department will not pursue prohibited transactions claims against investment advice fiduciaries who are working diligently and in good faith to comply with the impartial conduct standards for transactions that would have been exempted under the Best Interest Contract Exemption and Principal Transactions Exemption, pending the Department's issuance of additional guidance following the Fifth Circuit Court of Appeals' decision to vacate the fiduciary rule and related exemptions.