The Department of Labor (DOL), through regulation, defines that term "investment advice" for purposes of determining what activities are considered to be fiduciary for purposes of ERISA and the Internal Revenue Code (IRC).  The impact of changes to this definition are significant as financial institutions, which meet the new definition, will become subject to the prohibited transaction rules when serving employer-sponsored plans and IRAs, among other types of retirement investors.  Jason will describe the regulation in plain English terms, discuss the steps being taken by financial institutions to comply with the changing requirements, and provide attendees with actionable takeaways to help firms shape their strategies.