Further comments on the rule invited during transition period
A new course defines procedural frameworks for advisors “based on fiduciary best practices”
The main purpose of the proposed delay to July 1, 2019 is to give the DOL more time to consider possible changes and alternatives to the rule’s provisions
But the DOL will continue to analyze the issues raised in a Trump administration order— and it’s possible the rule will face further changes
The obligation for advisors to provide retirement advice that puts clients’ best interests first will now kick in on June 10
Despite a new review, many changes will remain as insurers have “invested meaningful resources” in preparation, Fitch report suggests
State regulators lobby for establishing a fiduciary duty standard
Proposed extension to June 9 will give the U.S. government an opportunity to review the rule’s impact
The statement comes in the wake of a U.S. district court decision striking down an industry-led legal challenge against the DOL’s fiduciary rule
Firms will continue to take steps to comply with the regulation until Congress or the DOL take more definitive action, new Moody’s report suggests