Fiduciary Rule—Not Delayed Yet

60-day delay proposed, comments requested on president's study.

The US Department of Labor (DOL) has proposed to delay the applicability date of the fiduciary rule (and related prohibited transaction exemptions) by 60 days and has also requested comments to help it complete a study that President Donald Trump ordered in the Presidential Memorandum.

What you need to know

• The proposed delay is 60 days, which would make June 9 the new compliance date. This is less than the widely anticipated 180-day delay.
• It would not affect the January 1, 2018, date for compliance with the full conditions of the Best Interest Contract and Principal Transaction Exemptions.
• The comment period on the proposal ends March 17, 2017. The DOL has specifically requested comments on
  • whether the benefits of a 60-day delay justify its costs, including the potential losses to affected retirement investors;