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ARTICLE · 10 JANUARY 2018

The DOL Fiduciary Rule: Charting A Course, Avoiding Collisions And Potential Litigation

Carlton Fields
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For the past several months, we have written about potential litigation issues under the "revised temporary" DOL Rule involving the offer and sale of annuities in the IRA market.

United StatesEmployment and HR
James F. Jorden
James F. Jorden

Q&As On Annuity Sales Practices, 'Investment Advice' And Litigation



For the past several months, we have written about potential litigation issues under the "revised temporary" DOL Rule involving the offer and sale of annuities in the IRA market. This article continues that discussion. Recall that while the Rule's revised broad definition of "fiduciary" was adopted effective June 9, 2017, the Rule's exemptions were made available for a temporary transition period, by adherence only to the Rule's Impartial Conduct Standards. As in the past, the answers below are limited to the Rule's impact during this "temporary" period. In particular this Q&A addresses issues raised in the Department's recent release which provides for an 18-month Extension of Transition Period and Delay of Applicability Dates for the Best Interest Contract Exemption; the Class Exemption for Principal Transactions; and PTE 84-24 (Release) (29 CFR Part 2550, 11/29/17) .

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