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ERISA Compliance for Investment Advisors

The Employee Retirement Income Security Act of 1974, as amended (“ERISA”) applies to investment advisors and other securities professionals who advise, manage, or trade in accounts that are considered subject to ERISA (i.e., employee benefit/retirement plans).  With the recent withdrawal of the Department of Labor (“DOL”) “rollover rule,” some investment advisors have forgotten their compliance obligations under the DOL rules.  Investment advisors should be mindful of a few key topics in ensuring compliance with both DOL and general securities laws.

  • What type of fiduciary are you?
  • Are you required to provide fee disclosures to the Plan or Participants?
  • Are you inadvertently providing investment advice to participants?
  • Have you engaged in a prohibited transaction (not subject to an exemption)?

McCabe & Ali, LLP’s securities practice covers a range of areas including securities fraud investigations, inquiries initiated by the SEC, FINRA, DOL, CFP® Board, and other state regulatory bodies.  Our experienced team has a combination of talent and government experience to help protect our client’s license and good name.

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