An ERISA employee benefit plan, the United Mind Workers of Vermont (UMW) plan, fired its auditor and hired the Locan Firm as a replacement. Locan has only one office, which is located in Burlington, VT. Locan wants to do things right and not violate any independence rules.
Answer the following questions "yes" or "no."
Should Locan first consider Department of Labor (DOL) independence regulations?