Workplace Wise - Iowa Employment Law Attorneys

Tuesday, February 7, 2017

Trump Issues Presidential Memorandum on Fiduciary Rule

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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