A prominent fiduciary expert is predicting that the January 1, 2018 scheduled compliance date for the Labor Department’s fiduciary rule’s prohibited transaction exemptions will be delayed for up to a year.
Writing in a blog post, Fred Reish, chair of the financial services ERISA Team at Drinker Biddle & Reath, said the extent of the review of the rule being undertaken by the Labor Department and the requirements of the Administrative Procedures Act make it highly unlikely that a revised regulation will be finalized before the beginning of next year.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
