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DOL Fiduciary Rule Vacated; EquiTrust Requirements for Fiduciary-Rule Compliance No Longer in Effect

 

DOL Fiduciary Conflict-of-Interest Rule Vacated

EquiTrust DOL Fiduciary Certification Form (ET-DOL-FIDCERT) is No Longer Required for Qualified Sales


Effective June 21, 2018, the Department of Labor Fiduciary Rule was vacated by the Fifth Circuit Court of Appeals and no longer in effect. DOL's expanded definition of "investment advice fiduciary" no longer applies.

Additionally, the new exemption which provided relief from the prohibited transactions, the Best Interest Contract Exemption (BICE), and the amendments to existing PTE-84-24 are no longer applicable.

Important Updates
• The DOL Fiduciary Certification Form (ET-DOL-FIDCERT) is no longer included on AppBuilder or E-Applications on the EquiTrust Agent Website. For application packets printed previously, the form is no longer a requirement and can be disregarded.
• The Business Guidelines document on the Agent Website has been revised accordingly, now dated 6-18.Agents are still subject to all other provisions of the Business Guidelines. To view the Business Guidelines,
click here; login is required.
• It is important to note that compliance with any previously applicable ERISA regulations still apply and are the agent's responsibility.


Questions? If you have any questions regarding the reversal of the Fiduciary Rule, contact your IMO or EquiTrust Sales Support at866-598-3694.

 


 

 


EquiTrust does not offer investment advice to any individual or agent and this material should not be construed as investment advice.
FOR AGENT USE ONLY. NOT FOR USE WITH THE PUBLIC.
 
 

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