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Best Interest Standard of Care for Advisors, Part 82: Correction of Violations of PTE 2020-02
FredReish.com 
[Guidance Overview] Feb. 22, 2022 "A failure to satisfy with even one of the many conditions in the PTE will mean that the violation will need to be corrected and reported in the report for the annual review and, if there were resulting 'losses', those losses must be restored to the retirement account. Keep in mind that, for DOL purposes, a loss isn't just a reduction in value of an investment. It can also be, for example, additional expenses." |
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