Tag: Fiduciary Rule

As you may recall, the Fiduciary Rule’s BIC Exemption and Principal Transaction Exemption became applicable on June 9, 2017, with transition relief through January 1, 2018.  However, recently the Department of Labor announced the delay of the second implementation of the Fiduciary Rule, amending it from January 1, 2018 to July 1, 2019.  Due to this amendment, Financial Institutions and Advisers will only have to comply with the Impartial Conduct Standards during the transition phase.  The Impartial Conduct Standards requires an Adviser to seek to obtain the best execution reasonably available under the circumstances with respect to the transaction, and charge no more than reasonable compensation. Read More…

A recently approved rule from the Department of Labor (“DOL”) is a complex regulation that would apply to financial professionals who provide financial advice to participants or sponsors of retirement savings plans, including 401(k) plans, IRAs and rollovers. The new rule, commonly referred to as the Fiduciary Rule, changes the legal relationship between an adviser and a client. Read More…