FSI Statement on 18-Month Delay of the DOL Fiduciary Rule
Today, the Department of Labor (DOL) published its delay of the applicability date of the Fiduciary Rule’s Best Interest Contract Exemption, Class Exemption for Principal Transactions, and PTE 84-24 until July 1, 2019. Below is a statement from Dale Brown, FSI President & CEO:
“We applaud the DOL’s decision to delay the remaining portions of its fiduciary rule for 18 months. This delay will allow the DOL to conduct a thorough review of the rule, as ordered by President Trump, to ensure investor choice and access to retirement savings advice is protected. In addition to the rule review, we are encouraged by the DOL’s statement that they will coordinate with other regulators, including the SEC, to simplify and streamline the rule.”
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