DOL Opens 15-Day Public Commentary Period on 18-Month Delay of Fiduciary Rule

August 31, 2017 39 view(s)
DOL Opens 15-Day Public Commentary Period on 18-Month Delay of Fiduciary Rule
The Department of Labor (DOL) has wasted no time in promulgating a Notice of Proposed Rulemaking (NPRM) on its 18-month delay in enforcement of the Obama-era fiduciary rule that took effect June 9. The NPRM was published Aug. 31. The publication opened a 15-day public commentary period. The delay will take enforcement of the fiduciary rule from Jan. 1, 2017, to July 1, 2019. "It's a very clear attempt at death by delay," Andrew Stoltmann, a Chicago securities attorney and an official with the Public Investors Arbitration Bar Association, told Investment News.  "The DOL, with Trump's likely blessing, is trying to delay and gut the fiduciary duty rule."
by

NOTE: The details in this blog are provided for informational purposes only. All answers are general in nature and do not constitute legal advice. If legal advice or other expert assistance is required, the services of a competent professional should be sought. The author specifically disclaims any and all liability arising directly or indirectly from the reliance on or use of this blog.

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