The U.S. Department of Labor has announced an 18-month extension from Jan. 1, 2018, to July 1, 2019, of the special Transition Period for the Fiduciary Rule’s Best Interest Contract Exemption and the Principal Transactions Exemption, and of the applicability of certain amendments to Prohibited Transaction Exemption 84-24 (PTEs). Read More
Fiduciary Rule Law as of June 9, 2017 but DOL will not Enforce until January 1, 2018 as it Seeks Pubic Input on the Rule, Considers Changes and Additional Delays
On May 22, 2017 Alexander Acosta, the Secretary of the Department of Labor (“DOL”) wrote an opinion piece in the Wall Street Journal on the Fiduciary Rule. In it he states: “The Labor Department has concluded that it is necessary to seek additional public input on the entire Fiduciary Rule, and we will do so.