6 DOL fiduciary tasks to tackle before first deadline
May 24, 2016 by Bernice Napach
Financial advisory firms have a lot to do between now and April 10, 2017, when the Department of Labor’s fiduciary rule becomes “applicable,” in the nomenclature of the agency. Full compliance is not required until Jan. 1, 2018, allowing firms a transition period to set up policies and processes that conform to the new rule, but the clock is ticking.
“It’s really not January 2018 date you should be thinking about to have everything in place,” said Nancy Reich, executive director, financial services at Ernst & Young, at an all-day seminar presented by the Securities Industry and Financial Markets Association on the DOL fiduciary rule. “You have to have quite a lot of things in place by the April date in order to be able to comply.” Click HERE to read more…
