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February 12th, 2021
DOL Confirms Fiduciary Prohibited Transaction Exemption Will Stand, For Now
The U.S. Department of Labor (DOL) confirmed Friday that it will go ahead with the implementation and enforcement of the new fiduciary prohibited transaction exemption (PTE) installed in the final days of the previous administration. Read more >
A Few Important Points About the DOL’s Fiduciary Actions
Among other important developments, the Department of Labor has confirmed that one cannot simply write their way out of a functional fiduciary relationship. Read more >
DOL Reconsiders Who Can Be Considered a Fiduciary
What you need to know about the DOL’s five-part fiduciary status test.  Read more >
TIAA Faces New Managed Account Rollover Complaint Months After Settling SEC Charges
DOL Announces Anticipated ESG Fiduciary Investing Rule
Social Security Benefits Will Grow 5.9% in 2022 Amid Renewed Inflation Concerns
Plaintiffs Claim Deloitte Breached ERISA Prudence Duties
Retirement Industry People Moves
Market Mirror
Thursday, the Dow was down 7.10 points (0.02%) at 31,430.70, the Nasdaq gained 53.24 points (0.38%) to finish at 14,025.77, and the S&P 500 closed 6.50 points (0.17%) higher at 3,916.38. The Russell 2000 was up 2.88 points (0.13%) at 2,285.32, and the Wilshire 5000 increased 66.02 points (0.16%) to 41,899.28. The price of the 10-year Treasury note decreased 18/32, bringing its yield up to 1.164%. The price of the 30-year Treasury bond fell 31/32, increasing its yield to 1.953%.
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