DoL Fiduciary Rule Delayed 60 Days

April 07, 2017

Today, the Department of Labor (DoL) published a rule delay for the fiduciary rule, delaying its applicability date by 60 days. The initial applicability date of the fiduciary rule was April 10, 2017.  The 60 day delay moves the applicability date to June 9, 2017.  This action also extends (for 60 days) the applicability dates of the Best Interest Contract Exemption and the Class Exemption for Principal Transactions in Certain Assets Between Investment Advice Fiduciaries and Employee Benefit Plans and IRAs.

The 60 day delay applies to the Impartial Conduct Standards of the fiduciary rule. The compliance for other conditions of the DoL rule, including the requirements to make specific disclosures and representations of fiduciary compliance in written communication with investors, is not required until January 1, 2018. Click here to read the text of the DoL rule delay.

Despite the DoL rule delay, RIA Compliance Consultants encourages investment advisers to prepare for the implementation of the fiduciary rule. We have a recorded webinar in which our Senior Compliance Consultants discuss strategies for investment advisers to comply with the DoL’s fiduciary rule. Click here to purchase this webinar.

RIA Compliance Consultants is available for consultations about what your investment advisor can do to prepare for the implementation of the DoL fiduciary rule. Click here to schedule an introductory call to learn more about our DoL Rule services.

Posted by Grant Parr
Labels: Uncategorized