Today the Department of Labor published its final rules relating to the new definition of a fiduciary and related exemptions from certain prohibited transactions provisions under the Employee Retirement Income Security Act of 1974 (ERISA) that impacts the way you conduct business. Please know that Fidelity & Guaranty Life has been actively involved in following this rule as it has unfolded. In addition, we are currently reviewing this final rule and working with trade groups on our strategy and response to the rule.
We are supportive of you as independent marketing organizations and producers and share your concerns about the rule and the manner in which it has developed. Once we have analyzed the final rule and have additional information, we will be sure to pass it along at that time. If you have any questions in the meantime, please contact us directly at salesdesk@fglife.com.
