DOL fiduciary rule opponents want to push implementation back until 2019

July 25, 2017 by Mark Schoeff Jr.

Critics of the DOL fiduciary rule are urging the Labor Department to delay its implementation until January 2019 — or possibly longer.

“To provide needed certainty, reduce harm to investors and limit unnecessary ‘sunk’ costs associated with implementing requirements that the department ultimately eliminates or modifies, the department should immediately — by August 15, 2017 — issue an interim final rule delaying January 1, 2018, applicability date to January 1, 2019,” Investment Company Institute acting general counsel Dorothy Donohue and deputy general counsel David Abbey wrote in a comment letter last week.

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Originally Posted at InvestmentNews on July 24, 2017 by Mark Schoeff Jr..