Talking Through the DOL’s Proposed Prohibited Transaction Exemption

On June 29, 2020, the Department of Labor (DOL) issued a proposed prohibited transaction exemption, filling the void left when the Fifth Circuit vacated the Obama-era 2016 DOL regulation in 2018. We know that the DOL — for now, at least — is sticking with the Trump guidance as to “fiduciary” status and the new class exemption. In this podcast series, Faegre Drinker’s Jim Jorden and Brad Campbell discuss the DOL’s decisions and their ramifications.