{"abstract":"This document contains a final regulation defining who is a \"fiduciary\" of an employee benefit plan under the Employee Retirement Income Security Act of 1974 (ERISA or the Act) as a result of giving investment advice to a plan or its participants or beneficiaries. The final rule also applies to the definition of a \"fiduciary\" of a plan (including an individual retirement account (IRA)) under the Internal Revenue Code of 1986 (Code). The final rule treats persons who provide investment advice or recommendations for a fee or other compensation with respect to assets of a plan or IRA as fiduciaries in a wider array of advice relationships.","action":"Final rule.","agencies":[{"raw_name":"DEPARTMENT OF LABOR","name":"Labor Department","id":271,"url":"https://www.federalregister.gov/agencies/labor-department","json_url":"https://www.federalregister.gov/api/v1/agencies/271","parent_id":null,"slug":"labor-department"},{"raw_name":"Employee Benefits Security Administration","name":"Employee Benefits Security Administration","id":131,"url":"https://www.federalregister.gov/agencies/employee-benefits-security-administration","json_url":"https://www.federalregister.gov/api/v1/agencies/131","parent_id":271,"slug":"employee-benefits-security-administration"}],"body_html_url":"https://www.federalregister.gov/documents/full_text/html/2016/04/08/2016-07924.html","cfr_references":[{"chapter":null,"citation_url":null,"part":2509,"title":29},{"chapter":null,"citation_url":null,"part":2510,"title":29},{"chapter":null,"citation_url":null,"part":2550,"title":29}],"citation":"81 FR 20946","comment_url":null,"comments_close_on":null,"correction_of":null,"corrections":[],"dates":"Effective date: The final rule is effective June 7, 2016.","disposition_notes":null,"docket_ids":[],"dockets":[],"document_number":"2016-07924","effective_on":"2016-06-07","end_page":21002,"executive_order_notes":null,"executive_order_number":null,"explanation":null,"full_text_xml_url":"https://www.federalregister.gov/documents/full_text/xml/2016/04/08/2016-07924.xml","html_url":"https://www.federalregister.gov/documents/2016/04/08/2016-07924/definition-of-the-term-fiduciary-conflict-of-interest-rule-retirement-investment-advice","images":{},"images_metadata":{},"json_url":"https://www.federalregister.gov/api/v1/documents/2016-07924?publication_date=2016-04-08","mods_url":"https://www.govinfo.gov/metadata/granule/FR-2016-04-08/2016-07924/mods.xml","not_received_for_publication":null,"page_length":57,"page_views":{"count":49388,"last_updated":"2026-04-04 14:15:05 -0400"},"pdf_url":"https://www.govinfo.gov/content/pkg/FR-2016-04-08/pdf/2016-07924.pdf","presidential_document_number":null,"proclamation_number":null,"public_inspection_pdf_url":"https://public-inspection.federalregister.gov/2016-07924.pdf?1459955723","publication_date":"2016-04-08","raw_text_url":"https://www.federalregister.gov/documents/full_text/text/2016/04/08/2016-07924.txt","regulation_id_number_info":{"1210-AB32":{"issue":"201510","html_url":"https://www.federalregister.gov/regulations/1210-AB32/conflict-of-interest-rule-investment-advice","title":"Conflict of Interest Rule--Investment Advice","xml_url":"http://www.reginfo.gov/public/do/eAgendaViewRule?pubId=201510&RIN=1210-AB32&operation=OPERATION_EXPORT_XML","priority_category":"Economically Significant"}},"regulation_id_numbers":["1210-AB32"],"regulations_dot_gov_info":{"supporting_documents":[{"title":"Written testimony 41 Weyn LLC 081815","document_id":"EBSA-2010-0050-1263"},{"title":"Written testimony 40 Insured Retirement Institute 081715","document_id":"EBSA-2010-0050-1262"},{"title":"Written testimony 35 PIABA Peiffer 081315","document_id":"EBSA-2010-0050-1257"},{"title":"Written testimony 34 US Securities Markets Coalition Katz 081315","document_id":"EBSA-2010-0050-1256"},{"title":"Written testimony 33 CFA Institute Rittenhouse 081315","document_id":"EBSA-2010-0050-1255"},{"title":"Written testimony 32 American Society of Appraisers Tarbell 081315","document_id":"EBSA-2010-0050-1254"},{"title":"Written testimony 31 Managed Funds Association Kaswell 081315","document_id":"EBSA-2010-0050-1253"},{"title":"Written testimony 30 The Committee for the Fiduciary Standard McBride 081315","document_id":"EBSA-2010-0050-1252"},{"title":"Written testimony 27 Center for American Progress Valenti 081215","document_id":"EBSA-2010-0050-1249"},{"title":"Written testimony 25 Association for Advanced Life Underwriting Callahan 081215","document_id":"EBSA-2010-0050-1247"}],"comments_url":"https://www.regulations.gov/docketBrowser?rpp=50&so=DESC&sb=postedDate&po=0&dct=PS&D=EBSA-2010-0050","supporting_documents_count":41,"docket_id":"EBSA-2010-0050","regulation_id_number":"1210-AB79","title":"Definition of the Term Fiduciary; Conflict of Interest Rule - Retirement Investment Advice; Best Interest Contract Exemption; etc.","checked_regulationsdotgov_at":"2016-04-28T06:00:19Z"},"regulations_dot_gov_url":null,"significant":true,"signing_date":null,"start_page":20946,"subtype":null,"title":"Definition of the Term “Fiduciary”; Conflict of Interest Rule-Retirement Investment Advice","toc_doc":"Definition of the Term Fiduciary; Conflict of Interest Rule  Retirement Investment Advice","toc_subject":null,"topics":["Employee benefit plans","Pensions"],"type":"Rule","volume":81}