Correcting PTE 2020-02 Mistakes

Benefits and executive compensation partner Fred Reish and counsel Joan Neri coauthored an article for the National Society of Compliance Professionals (NSCP) on the impact the Department of Labor’s prohibited transaction exemption (PTE) 2020-02 has had on registered investment advisers and broker-dealers and their representatives.

In the article, Reish and Neri discuss common types of PTE compliance failures identified by broker-dealers, consequences of failing to satisfy the PTE conditions, and the PTE’s self-correction procedures.

The full article is available for NSCP members.