DOL Releases Fiduciary Rule Request for Information
The Department of Labor on Thursday published a Request for Information (RFI) regarding its fiduciary rule.
June 30, 2017 at 10:28 AM
5 minute read
Comments could lead to 'new exemptions or changes' to the fiduciary rule and PTEs, as well as extending the Jan. 1 compliance date
The Department of Labor on Thursday published a Request for Information (RFI) regarding its fiduciary rule.
Information gleaned from comments “could form the basis of new exemptions or changes/revisions” to the fiduciary rule and its associated prohibited transaction exemptions, or PTEs, Labor said, as well as the possibility of extending the Jan. 1 applicability date of certain provisions in the Best Interest Contract Exemption, the Class Exemption for Principal Transactions in Certain Assets Between Investment Advice Fiduciaries and Employee Benefit Plans and IRAs, and Prohibited Transaction Exemption 84-24, which deals with annuities.
There is a 15-day comment period regarding extending the Jan. 1, 2018, applicability date of certain aspects, and a 30-day comment period on all other issues raised in the RFI.
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