DOL Confirms June Fiduciary Date, Issues Enforcement Delay

On the same day Labor Secretary Acosta said there’s no legal basis for delaying the fiduciary rule’s implementation date of June 9, the Department of Labor said it will not actually enforce the fiduciary rule until January 1, 2018, as long as fiduciaries “are acting in good faith.”

The latter announcement was billed as “relief” and came in the form of a Field Assistance Bulletin on Monday, detailing a grace period of sorts to allow for additional comments and for firms to continue to adjust.

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