DOL fiduciary rule likely to tinker with popular exemption, analysts say
September 19, 2023 by John Hilton
In a world where regulations and rules come and go at a dizzying pace, Prohibited Transaction Exemption 84-24 achieved legendary status in the life insurance and annuity space.
Created in 1977 and amended several times over the years, PTE 84-24 allows producers to receive commissions when retirement plans and IRAs purchase insurance and annuity contracts.
So there is plenty of consternation afoot over what the Department of Labor plans to do with the popular exemption within its fiduciary rule rewrite.