Department of Labor Rules Regarding Rollovers


Prohibited Transaction Exemption (PTE) 2020-02, Improving Investment Advice for Workers & Retirees, was adopted in 2020 and went into effect in 2021, but enforcement was delayed until 2022. PTE 2020-02 is a new prohibited transaction exemption under the Employee Retirement Income Security Act (ERISA) and the Internal Revenue Code (the Code) that applies to investment advice fiduciaries concerning employee benefit plans and individual retirement accounts (IRAs). This course will discuss the Exemption, standards, and relief provided under PTE 2020-02.

Learning Objectives

Upon completion of this course, you should understand your obligations under PTE 2020-02, including, among other things:

  • fiduciary standards
  • rollover advice
  • prohibited transaction relief
  • impartial conduct standards
  • conflicts of interest
  • disclosures
  • compliance obligations

Designed For

This course is designed for Registered Representatives

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License or Certification