DOL

Olay! Olay! Olay! Olay!…No Fiduciary Rule DELAAAAY! No Fiduciary Rule DELAAAAY!

By: Joseph P. Yonadi, Jr. and Shaylor R. Steele

The delays are over, the Fiduciary Rule’s applicability date will not be delayed past June 9, 2017. Accordingly, plan sponsors, and the financial services industry, should be prepared to comply with the rule beginning on June 9, 2017.

However, Secretary Acosta also indicated that the DOL will continue to seek industry and public input on how to revise the bill and eliminate its negative effects on the […]

2017-06-01T09:56:58+00:00 June 1st, 2017|0 Comments

On Second Thought, DOL Proposes 60-Day Delay to Fiduciary Rule Applicability Date

By: Joseph P. Yonadi, Jr. and Nancy R. Chawla

On March 1, 2017, the Department of Labor’s (DOL) issued a proposed rule to extend the Fiduciary Rule applicability date by 60 days. The current applicability dates for the Fiduciary Duty Rule and prohibited transaction exemptions are set for April 10, 2017. The extension would move the applicability dates to June 9, 2017.

As mentioned in our previous blog post, “To Delay or Not to Delay (the Fiduciary […]

2017-03-03T16:24:20+00:00 March 3rd, 2017|0 Comments

To Delay or Not to Delay (the Fiduciary Duty Rule), That is the Question

By: Joseph P. Yonadi, Jr. and Shaylor R. Steele

This morning, the Office of Management and Budget (OMB) concluded its review of a proposed regulation entitled “Delay of Applicability Date” that would effectively delay the implementation of the Fiduciary Duty Rule (Rule). However, an odd turn of events took place when the OMB changed the designation of the delay to “economically significant.” This higher designation could potentially mean a longer comment period. The Department of Labor […]

2017-02-28T20:48:48+00:00 February 28th, 2017|0 Comments