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Best Interest Standard of Care for Advisors, Part 99: The PTE 2020-02 Requirement for an Annual Retrospective Review
FredReish.com Link to more items from this source
[Guidance Overview]
Aug. 9, 2022

"[T]he fourth condition -- the annual retrospective review -- can't be satisfied until next year, since it involves a review of the covered recommendations in 2022.... [If] the review isn't performed and the report certified as required, the financial institution (e.g., broker-dealer or RIA firm) didn't satisfy the requirements of the PTE and the relief provided by the PTE isn't available. As a result, all the covered recommendations for the year, including any rollover recommendations, would be prohibited transactions[.]"

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