The Knowledge Group: Prohibited Transactions Under ERISA - Obstructing Additional Taxes and Major Penalties
Rachel Markun will be speaking at The Knowledge Group's webcast titled, “Prohibited Transactions Under ERISA: Obstructing Additional Taxes and Major Penalties LIVE Webcast.”
The “prohibited transactions” rule under the Employee Retirement Income Security Act (ERISA) was created to ban transactions highly vulnerable to abuse. Recently, the Department of Labor (DOL) has re-proposed rule which aims to expand the definition of fiduciary investment advice. It includes two new prohibited transaction class exemptions as well as amendments to existing class exemptions. The proposed rule preserves the ability of fiduciary advisers, dealers, and insurance agents to continue accepting common forms of compensation that would otherwise be prohibited as conflicts of interest.
The DOL’s goal is to make sure that the new and amended exemptions available at the same time as the regulatory proposal becomes effective.
In a two-hour LIVE Webcast, a seasoned panel of thought leaders and professionals assembled by The Knowledge Group will offer the audience with an in-depth discussion of the fundamentals as well as updates of ERISA’s prohibited transactions rule. The panel will also offer the audience an overview of the three categories of prohibited transactions as outlined in 29 U.S.C. § 406. Going beyond the basic mechanics, our panel will present their thoughts and opinions on how to best comply with the ERISA “prohibited transactions” rule.
Rachel will discuss:
- Summary of U.S. Department of Labor (“DOL”) Proposed Regulations Regarding “Fiduciary” and Related Exemptions
- DOL Investigations
- Potential Consequences of Prohibited Transaction Violations
- Selected Best Practices