(Bloomberg Gadfly) -- It’s early days for the Department of Labor’s fiduciary rule, but itscritics are already wagging their fingers and saying “we told youso.”
The main thrust of the rule -- the requirement that brokers puttheir clients’ interests ahead of their own when handlingretirement accounts -- took effect on June 9.
Money managers must comply with the rule’s remainingrequirements by Jan. 1, 2018, although the Labor Department sought last week to extendthat compliance deadline to July 1, 2019, presumably to considerrevisions to the rule.
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