# [Series 65] 56, ERISA and Plan Fiduciary Standards

Page: https://stenobird.com/podcast/open-exam-prep-7140559/series-65-56-erisa-and-plan-fiduciary-standards
Text version: https://stenobird.com/podcast/open-exam-prep-7140559/series-65-56-erisa-and-plan-fiduciary-standards.md
Podcast: [Open Exam Prep](https://stenobird.com/podcast/open-exam-prep-7140559)
Published: 2026-05-19T01:01:53+00:00
Episode link: https://open-exam-prep.captivate.fm/episode/series-65-56-erisa-and-plan-fiduciary-standards
Audio file: https://episodes.captivate.fm/episode/2d84f7c6-7444-4b83-826e-71618c09f1e8.mp3
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Duration seconds: 197

## Resource

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - That ERISA governs private-sector retirement plans to protect employee assets. - The 'prudent man rule' requires fiduciaries to act with the skill and care of a knowledgeable expert. - Prohibited transactions, such as self-dealing or transacting with a party-in-interest, are strictly forbidden to avoid conflicts of interest. - Plan sponsors have a fiduciary duty of loyalty to act exclusively for the benefit of plan participants. - The Department of Labor enforces ERISA and can levy significant financial penalties for violations. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep

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## Transcript

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