DOL, Industry Years Apart on Fiduciary Rule Implementation Schedule

July 27, 2015 by Cyril Tuohy

The dust has barely settled between U.S. Department of Labor regulators and the financial advisory industry over the finer points of a proposed fiduciary rule and both sides are ready to square off over the implementation sequence of the rule.

The American Council of Life Insurers said the DOL needs to give the industry at least three years to implement the proposed rule from the date the final version is published in the Federal Register. That time is necessary to give advisors and carriers more time to plan to implement disclosure policies, advisor training and supervisory procedures, ACLI officers said in a press briefing today. Click here to read…

Originally Posted at InsuranceNewsNet on July 22, 2015 by Cyril Tuohy.