DOL: We Won’t Enforce Fiduciary Rule While Delay is Undecided
March 16, 2017 by John Hilton
The Department of Labor issued a bulletin Friday alerting the financial services industry that it will not pursue strong enforcement of its fiduciary rule in the short term.
The bulletin was issued to clear up confusing over the rapidly approaching April 10 applicability date. That date may be delayed by 60 days if a DOL rule is published in time.
“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,” the bulletin reads.
Click HERE to view the full story via INN; subscription required
