Fred Reish Provides Insight to ThinkAdvisor on DOL Fiduciary Rule Stay

Benefits and executive compensation partner Fred Reish provided insight to ThinkAdvisor on the Department of Labor’s new fiduciary rule, which was recently blocked by two Texas courts, and the implications for advisors.

Reish said that the 2020 version of the Prohibited Transaction Exemption (PTE) 2020-02 was stayed pending the outcome of the lawsuit. However, PTE 84-24, which Reish said was “much less demanding” is still in effect.

“The amended version — adopted this year and to be effective on Sept. 23 — was stayed. The two versions are similar, but not identical,” Reish noted.