Department of Labor Fiduciary Rule: The Impartial Conduct Standards



Course Outline

The course starts by discussing the meaning of being a fiduciary and how it is applied in the Fiduciary Rule. It then describes the Impartial Conduct Standards set forth in the Fiduciary Rule and identifies the three main elements: Acting in the Customer's Best Interest, Avoiding Misleading Statements, and Charging Reasonable Compensation.

The principal sections of the course go into greater detail with regard to the three elements and how they apply to the provision of investment advice with respect to retirement accounts as described by the Department of Labor. The course also provides example scenarios of how fiduciary responsibility applies in the provision of financial advice, as well as real-world scenarios which demonstrate the consequences of violating fiduciary responsibility.

The course is designed to engage the learner both by its bright, modern feel and the use of varied, interactive exercises and scenarios to illustrate the key learning points and test understanding.

Further Information

Format

SCORM 1.2 and SCORM 2004 compliant. The course is built with HTML/CSS/jQuery.

Implementation

This course runs on any SCORM 1.2 or SCORM 2004 compliant LMS platform and supports Internet Explorer 9 and above, Chrome, Safari, Firefox and tablets. JavaScript must be enabled and all pop-up blockers disabled.

Course Overview

The course starts by discussing the meaning of being a fiduciary and how it is applied in the Fiduciary Rule.

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Details

Learning outcomes:

By the end of the course the learner will be aware of:

  • The definition of a fiduciary as it applies in the context of the Department of Labor rule
  • The elements of the Impartial Conduct Standards and how they apply to the sale of fixed annuities
  • Examples of disclosure requirements related to Conflicts of Interest

Audience:

The course is suitable for all staff at all levels and is aimed at individuals and institutions who sell retirement investments to customers in the United States.

Course duration:

The course takes approximately 20-30 minutes.

Assessment:

The course includes a short multiple-choice assessment to test learners' understanding of the material.


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