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The DOL Officially Moves to Delay Full Fiduciary Rule

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The DOL Officially Moves to Delay Full Fiduciary Rule

(Washington)

There has been a flurry of announcements out of the DOL and SEC this week regarding the fiduciary rule, however, today's might be the most important. That is because it is not a promise but rather an action. Yesterday the DOL announced it was opening the 15-day comment period for its move to delay the full implementation date of the fiduciary rule, which is due to be enacted in January. Once the request for comment is published in the Federal Register, it will be open for comments (though the request is already published on the DOL's own site). The DOL seems to want to make the rule simpler, commenting that "The Department is particularly interested in public input on whether it would be appropriate to adopt an additional more streamlined exemption or other rule change for advisers committed to taking new approaches like those outlined above based on the potential for reducing conflicts of interest and increasing transparency".

FINSUM : So they are pressing ahead with a delay of the full implementation date. They were successful in securing one for the initial implementation, so we do not see a reason why this would not be approved.

  • DoL
  • SEC
  • fiduciary rule
  • delay

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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