By Cynthia Boyle Lande
On March 1, the Department of Labor issued a Proposed Rule extending
the effective date of the Fiduciary Rule from April 10, 2017 to June 9, 2017.
The Department’s issuance of the Proposed Rule is in response to the Presidential Memorandum issued February 3, 2017,
directing the Department to further examine the Fiduciary Rule to determine how
it has impacted or will impact individuals and the retirement services
industry. The Proposed Rule also seeks comments on the issues identified in the
February 3 Presidential Memorandum, including how the Fiduciary Rule protects
investors; how the Fiduciary Rule harms retirements services professionals;
whether the Fiduciary Rule will limit investors’ access to quality retirement
services and investment products; and whether alternatives to the Fiduciary
Rule exist. The Department will be accepting comments on the Proposed Rule
through March 17, 2017. BrownWinick will continue to monitor changes in this
area.
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