DOL Advice Rule Compliance Will Be ‘Heavy Lift’

February 24, 2021 by John Hilton

Advisors and agents do not have to worry about the Department of Labor investment advice rule for now, but should be focused on being in compliance by the end of 2021.

And there is a lot of work to be done, said Fred Reish, a partner with the law firm Faegre Drinker Biddle & Reath. The DOL rule took effect Tuesday, but the department and the Internal Revenue Service are both deferring compliance with the new rules until Dec. 20 as long as the “impartial conduct standards” are met.

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Originally Posted at InsuranceNewsNet on February 19, 2021 by John Hilton.