Panel: DOL Rule Will ‘Most Certainly’ Be Delayed

July 20, 2017 by John Hilton

Phase two of the controversial Department of Labor fiduciary rule will almost certainly be delayed beyond Jan. 1, panel convened by The American College agreed today.

However, panelists cautioned, that does not mean the fiduciary standard is going away. It does mean that smaller changes could yield big dividends for the industry. For example, the right for clients to class-action lawsuits could be removed.

Additional prohibited transaction exemptions are likely that better reflect the product development that has taken place, said Jamie Hopkins, director of retirement planning at The American College in Bryn Mawr, Pa.

Click HERE to read the full story via INN; subscription required. 

Originally Posted at InsuranceNewsNet on July 19, 2017 by John Hilton.