May 10, 2012

The Final 408(b)(2) Regulation: Impact on Investment Managers

This bulletin discusses the impact of the U.S. Department of Labor’s (DOL) final 408(b)(2) disclosure regulation on discretionary investment managers – that is, investment advisers with the authority to manage the assets of ERISA-governed retirement plans. The final regulation requires various disclosures to be made by an investment adviser to its ERISA plan clients prior to July 1, 2012. Failure to comply with these new disclosures could result in substantial penalties, excise taxes and forfeiture of investment advisory fees. We would be happy to assist you in drafting or reviewing these new disclosures.

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