On March 2, 2017, the Department of Labor’s (“DOL”) proposal to delay its change to the definition of the term “fiduciary” (the “Fiduciary Rule”) was published in the Federal Register. Against expectations, the proposed delay...more
On an almost daily basis, there are developments regarding the status of the Department of Labor’s (“DOL”) fiduciary rule creating a climate of uncertainty. Stakeholders, such as financial institutions that serve retirement...more
The April 10, 2017, compliance date for the United Stated Department of Labor’s (“DOL”) new fiduciary rule (the “Fiduciary Rule”) is approaching quickly; even while the Fiduciary Rule’s fate under the new Trump administration...more
The Department of Labor’s (“Department”) Fiduciary Rule and related Best Interest Contract Exemption and Prohibited Transaction Exemption amendments (collectively, the “Regulatory Package”) have faced significant resistance...more
In the face of controversy and following thousands of comments from market participants and lawmakers, the Department of Labor (“DOL”) has finalized sweeping changes to the definition of “fiduciary” under the Employee...more
The Department of Labor’s (DOL) controversial fiduciary regulation, which will subject a multitude of new financial market participants to strict fiduciary requirements under the Employee Retirement Income Security Act of...more