New DOL PTE Podcast Mini-series

In Part 1 of 2 Oyster Stew podcast episodes, DOL PTE 2020-02 experts Fred Reish, David Porteous and Joan Neri from the law firm of Faegre Drinker Biddle & Reath will be discussing with Oyster’s Ed Wegener the current state of the industry’s implementation of DOL PTE 2020-02, how different firms are approaching the requirements, self-correction, and what they see as the DOL’s approach. 

In February, a US District Court judge challenged the DOL’s FAQs around the fiduciary investment advice definition to rollover recommendations. In part 2 of 2 our experts discuss this case and other legal challenges, and the impacts these will have, if any. 

Listen to Part 1

Listen to Part 2

Oyster Consulting’s experts have the knowledge and experience necessary to efficiently conduct your DOL PTE required assessment, testing and documentation. Our industry professionals can also help you prepare your procedures and assess available tools and vendors. Leverage our resources to ensure your review and compliance program will stand up to regulatory scrutiny.    

About The Authors

Joan Neri provides counsel to employer plan sponsors and plan service providers in fulfilling their obligations under the Employee Retirement Income Security Act (ERISA) and complying with the Internal Revenue Code rules governing employee benefit plans. Joan advises on ERISA fiduciary status and responsibilities, avoidance of prohibited transactions, the considerations associated with structuring, developing and offering investment products and services to ERISA plans, and day-to-day plan operational and compliance issues. View Joan’s full biography.

David Porteous routinely counsels clients in the investment management, broker-dealer and financial services industries on regulatory matters including examinations, investigations and enforcement proceedings as well as complex civil and securities-related litigation. In addition, he assists clients in developing and implementing compliance and regulatory risk management plans and represents clients in complex civil and securities litigation. View David’s full biography.

Fred Reish is a noted authority on retirement plan products and plan management who helps clients fulfill their fiduciary duty to investors and comply with federal law. He counsels plan sponsors, service providers and registered investment advisers on fiduciary responsibility, prohibited transactions under federal law, federal audits and pension plan disputes. View Fred’s full biography.

Ed Wegener is an innovative compliance, risk management and supervisory controls expert with deep understanding of Federal Securities Laws and the rules of self-regulatory organizations, as well as technology optimization and risk mitigation. Prior to joining Oyster, Ed held several posts in FINRA, most recently as  Senior VP and Midwest Regional Director.

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