33100500_1 4 Belgium v Spain (Barcelona Traction) ICJ 1970 Belgian shareholders in Canadian company with investment in Spain. After Spanish courts/ authorities seized assets, Belgium sought to assert right to espouse diplomatic protection on behalf of shareholders.
Understanding the Best Interest Contract (BIC) Exemption Initially a more controversial part of the initial DOL proposal, the final rule includes a Best Interest Contract exemption that allows a financial institution to receive variable compensation.
âIn order to earn commissions that vary by product, the transaction would need to qualify for an exemption,â Wagner said. âTo address that need, the DOL created the best interest contract exemption, or BICE.â. The exemption is the most sweeping form of relief from the most stringent parts of the rule. It can be used for any assets and products offered to retirement plan and IRA investors, as long as the advisor is providing non-discretionary advice.