Posts Categorized: Fiduciary Rule

DOL Signals Changes to Fiduciary Rule; SEC Commissioner Calls Rule “Misguided”

in Fiduciary Issues, Fiduciary Rule

By: Sterling Perkinson and Harrison Taylor The Department of Labor (DOL) has proposed an extension of the transition period of its Fiduciary Rule from January 1, 2018 to July 1, 2019. (See our prior blog post here). At the same time, the DOL signaled that significant changes will be made to the Fiduciary Rule and/or related exemptions prior to the end of the transition period. Streamlined Exemption Anticipated. The DOL noted in the preamble to proposed regulations extending the transition period that it “anticipates it will propose in the near future a new and more streamlined class exemption built in… Continue Reading

DOL Extends Fiduciary Rule Transition Period, Issues FAQs on Fee Disclosures

in Fiduciary Rule, Retirement Plans

By: Sterling Perkinson and Harrison Taylor Transition Period Extension In an August 9th court filing, the DOL announced it will extend the transition period for three prohibited transaction exemptions relating to the fiduciary investment advice rule (the “Fiduciary Rule”), including the Best Interest Contract (BIC) Exemption, to July 1, 2019. Previously, the transition period was set to end on January 1, 2018. The DOL’s extension of the transition period delays for at least 18 months the more onerous conditions of the BIC Exemption. The DOL has been considering making changes to the Fiduciary Rule or related exemptions during the transition… Continue Reading