"Most notably, this new definition would remove the requirements from the five-part test that the applicable advice be made 'on a regular basis' and as the 'primary basis for investment decisions.' ... [T]he Proposed Rule could cover a single instance of advice provided that it is Covered Advice and meets the other requirements and the adviser only needs to acknowledge that its advice will be considered by the recipient in connection with investment decisions related to assets of an ERISA-covered plan or IRA."  MORE >>