Department of Labor Proposes Extended Transition for Fiduciary Rule Exemption

Summary

The U.S. Department of Labor (DOL) has proposed an 18-month expansion of the transition period leading up to effectiveness of the Best Interest Contract (BIC) and Principal Transactions exemptions to the DOL’s Fiduciary Rule. The proposal calls for extending the end of the period from January 1, 2018, to July 1, 2019.