DOL issues temporary enforcement policy on fiduciary rule
March 14, 2017 by Melanie Waddell
The Department of Labor’s Employee Benefits Security Administration issued a temporary enforcement policy on Friday regarding its fiduciary rule.
In its Field Assistance Bulletin 2017-01, EBSA states that “although the department intends to issue a decision on the March 2 proposal in advance of the April 10 applicability date, financial services institutions have expressed concern about investor confusion and other marketplace disruption based on uncertainty about whether a final rule implementing any delay will be published before April 10, whether there may be a ‘gap’ period during which the fiduciary duty rule becomes applicable before a delay is published after April 10, or whether the department may decide either before or after April 10 not to issue a delay based on its evaluation of the public comments.”
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