Los Angeles partner Bruce Ashton presented a National Association of Plan Advisors (NAPA) webcast titled, “Are You Being Targeted by the DOL?” on Tuesday, Jan. 17. It was a premier website for the new organization.
The Department of Labor (DOL) appears to be targeting for investigation broker-dealers and financial advisory firms that service ERISA retirement plans. DOL's focus is on the identification of improper or undisclosed compensation received by these firms.
Bruce, a member of the Employee Benefits & Executive Compensation Practice Group discussed what the DOL is looking for, how it is approaching the investigation process, and what possible steps a firm can take to protect itself and survive an investigation.