Field Assistance Bulletin No. 2007-01

This document is about guidance provided by the U.S. Department of Labor Employee Benefits Security Administration regarding the statutory exemption for investment advice under the Employee Retirement Income Security Act (ERISA). It clarifies the impact of the Pension Protection Act of 2006 amendments on prior Department of Labor guidance related to investment advice and the scope of the statutory exemption, as well as the standards for selecting and monitoring a fiduciary investment adviser.