Guide to Structuring BICE Agreements-Online Webinar

Thursday, Jun 22, 2017 at 11:30AM - 2:30PM
Fremont, CA

Event Details

This presentation will examine how the Trump presidency could impact the rule, the requirements for qualifying under the new Best Interest Contract Exemption (the BICE), which is the centerpiece of this system of conditional dispensations, and practical implications of the fiduciary rule for broker–dealers, registered investment advisors, and other investment institutions and how asset managers may wish to assist their partners.

The Department of Labor fiduciary rule significantly broadens the scope of retirement advisors deemed to be ERISA fiduciaries. A number of exclusions and exemptions are necessary to preserve the flow of information to plans and plan participants from their advisors who could otherwise be forced to limit their plan communications.

Objectives of the Presentation
The session will help you to understand:
  • What is the scope of a BICE?
  • What terms must be included in a BICE contract between firms and owners of IRAs and other non-ERISA accounts?
  • Drafting disclosures applicable to ERISA plans versus IRAs and other accounts.
  • What other requirements must be met for advisers to comply with the BICE?
  • What is the notice requirement a firm must provide to the DOL in order to rely upon the BICE?
  • Will there be compliance / audit activity with respect to BICE arrangements?
Why Should you Attend
The 2017 fiduciary rules have created a great deal of concern and uncertainty among ERISA counsel, plan fiduciaries, financial advisers, insurance companies, broker-dealers and other firms. The new rules impose significant restrictions on how advisers may provide investment advice in connection with a range of tax-preferred investment vehicles including ERISA-covered plans, IRAs, HSAs, Archer MSAs and Coverdell ESAs.

To address conflicts of interest that arise when providing investment advice in connection with such accounts, the DOL has included a best interest contract exemption (BICE) provision in the fiduciary rules. If an adviser complies with BICE (including entry into a BICE contract when applicable), the BICE provides relief from ERISA's and the Code's prohibited transaction provisions.

Structuring a BICE is a complex task. Counsel must identify how the exemption may be applied based on the type of account and the compensation scheme involved and ensure that the contract language explicitly meets the DOL's requirements for allowing the exemption. The BICE also mandates significant contract, notice and disclosure practices, both one-time and ongoing, to the DOL and the interested parties to the contract.

Listen as our expert speaker "Ms. Kiesewetter" - a seasoned attorney in the field ERISA, ACA & executive compensation plans - provides a thorough and practical guide to structuring BICE agreements, offering usable structuring tools and drafting language to properly construct a BICE agreement that will withstand DOL scrutiny.

Areas Covered
  • Types of BICE
  • What compensation practices will a properly structured BICE permit
  • Discretionary vs. non-discretionary advice
  • Structuring BICE terms for full exemption
  • Notice requirements
  • Compliance / Audit activity with respect to BICE arrangements
Who will Benefit
  • Investment advisors
  • Brokers
  • Broker-Dealers
  • RIAs
  • Bankers
  • Insurance companies
  • Human Resources professionals
  • CFOs & In-house counsel.

For Registration

Note: Use Promo code HJQDZ and get 10% off on registration (Valid till JUNE 30th 2017)

Organization Details

Online Compliance Panel (OCP) creates and delivers comprehensive industry relevant training sessions. These sessions are simple, interactive and cost effective. We are a predominantly web based information exchange forum. Live interactions on compliance training make the process holistic and effective. OCP largely emphasizes in offering regulatory compliance training to compliance professionals on varied topics. These primarily include risk management, quality management, corporate compliance and other regulatory compliances. Some of our primary areas of focus include advancement and updates in regulatory compliance, best practices and market trends.

We strive to incorporate high standards in developing a culture facilitating exchange of ideas resulting in functional excellence. OCP believes in nurturing ideas and thought processes through innovative e-learning methodologies. Our products and services are designed to offer customized solutions to industry and market. We bridge the gap between experience and knowledge thus delivering original and creative content.

Our objectives of employing interactive mediums ensure effective communication and mutual exchange of ideas. OCP closely follows best practices and regulatory trends in the global compliance scenario. We also observe and communicate trends witnessed in FDA, ISO regulations, process and design validation. All updates and additions to important laws can be accessed by our customers in real time.

Our mission is to empower compliance professionals through effective online training sessions. Our world class training methodologies stem from comprehensive understanding of client requirements. The content conforming to FDA and ISO standards is developed by well qualified and experienced industry leaders. Our offerings will exceed expectations and add value to your investment.

The content in various categories such as medical devices, pharmaceuticals and biotechnology will raise the bar in terms of quality already on offer .We hope to contribute to the creation of responsible organizations creating benchmarks in quality, integrity and transparency.

Online Event
38780 Tyson Lane, Apt 210
Fremont, CA 94536

Starts June 22, 2017 at 11:30AM - 2:30PM

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Contact Information

Organization: Online Compliance Panel

Event Contact: OCP Panel

Phone: 15108575896