Newsflash: ERISA's Fiduciary Rule - Not Dead Yet?

April 06, 2017

The controversial new fiduciary regulation of the U.S. Department of Labor (the “DOL”), together with related new and amended “prohibited transaction” exemptions (collectively, the “Rule”), had been scheduled to become generally applicable on April 10, 2017. After the issuance of a February 3, 2017 Presidential Memorandum directing the DOL to reexamine the Rule, on March 2, 2017 the DOL proposed a 60-day extension of the applicability date of the Rule to June 9, 2017. Now, on April 4, 2017, after issuing a temporary enforcement ban regarding the Rule on March 10, 2017, the DOL has finalized the 60-day extension (the “Extension”).

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