Exam Alert: Disclosures required by the Department of Labor do not need to be filed with FINRA

On October 20, 2010, the U.S. Department of Labor (DOL) adopted a rule that requires retirement plan administrators to show participants in participant-directed individual account plans (e.g., 401(k) plans) information on alternative investment options. On January 13, 2012, FINRA stated that communications that contain only the information required by the DOL rule do not need to be filed with FINRA. Note that communications that have additional information not required by the DOL rule must be filed with FINRA. Continue reading

On October 20, 2010, the U.S. Department of Labor (DOL) adopted a rule that requires retirement plan administrators to show participants in participant-directed individual account plans (e.g., 401(k) plans) information on alternative investment options.  On January 13, 2012, FINRA stated that communications that contain only the information required by the DOL rule do not need to be filed with FINRA.  Note that communications that have additional information not required by the DOL rule must be filed with FINRA.

Source: FINRA Regulatory Notice 12-02

This alert applies to the Series 62, Series 6, Series 26, Series 24, Series 7, and Series 82.

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