Department of Labor Seeks 18-Month Delay of Fiduciary Rule

August 9, 2017

The Department of Labor is considering delaying the January 1, 2108 compliance date of the substantive provisions of its fiduciary rule.  Specifically, the Department wants to delay the following until July 1, 2019:

• Best-interest contract
• Class exemption for principal transactions in certain assets between plan fiduciaries and the plans
• Certain transactions with insurance agents, broker-dealers and consultants.

The Department of Labor filed a notice regarding this action on August 9, 2017.