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Brokerage Window Fiduciary Duties in Light of DOL Cryptocurrency Guidance
Kilpatrick Townsend [Guidance Overview] May 2, 2022 "Ali Khawar, acting secretary of [EBSA], has stated that the intent of the Cryptocurrency Guidance was not a 'backdoor way to regulate brokerage windows in a whole new way.' He also clarified that the guidance does not say that fiduciaries are responsible for reviewing and approving each individual investment option available under a brokerage window. However, further guidance is needed to clarify the DOL's position on the scope of fiduciary responsibility for investment options under a brokerage window." |
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