The Labor Department has officially delayed full implementation of the fiduciary rule by 18 months.
Labor is pushing the scheduled January 1, 2018 implementation of the rule's Best Interest Contract Exemption, and other prohibited transaction exemptions, to July 1, 2019.
The controversial Obama-era regulation is designed to protect investors in qualified retirement accounts from conflicted advice.
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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.
