By Cynthia B. Lande
On Friday, February 3, 2017, President Trump issued a Presidential Memorandum directing the Department of
Labor to further examine the Fiduciary Rule and
how it impacts business and investors. The Department of Labor responded to the Memorandum, stating that it will
explore legal options to delay the applicability date of the Fiduciary Rule
while it completes the examination required under the Memorandum.
The original applicability date under the Fiduciary Rule was
scheduled to be April 10, 2017. It is not clear at this time whether the
Presidential Memorandum will result in a delay in this applicability date or
other changes to the Fiduciary Rule. BrownWinick will continue to monitor the
DOL’s examination of the Fiduciary Rule. If you have any questions about the
Fiduciary Rule, or changes to the Fiduciary Rule as a result of the Presidential
Memorandum, you should contact your BrownWinick employee benefits attorney.
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