2 pages. Excerpt: The proposed regulation focuses on disclosure of the direct and indirect compensation received by service providers and potential conflicts that may affect their objectivity. The proposed regulation affects only certain service providers whose contracts or arrangements are most likely to raise concerns about the receipt of indirect compensation, the fiduciary nature of the services to be provided, or conflicts of interest that might affect the provision of services. In addition, the Department is proposing a class exemption that would provide relief to a plan fiduciary who enters into a contract that is not 'reasonable' because, unknown to the plan fiduciary, the service provider failed to comply with its disclosure obligations under the proposed regulation.

MORE >>