The Department of Labor proposed a 60-day delay of the applicability date of the Fiduciary Duty Rule.
News & Insights
The DOL issued a "temporary enforcement policy" related to a recently proposed 60-day extension of the fiduciary rule applicability date.
President Obama vetoed a Congressional resolution of disapproval to prevent the Department of Labor's implementation of the final rule relating to the "Definition of the Term 'Fiduciary'; Conflict of Interest Rule – Retirement Investment Advice."
Senator Elizabeth Warren (D-MA) urged Acting Labor Secretary Edward Hugler to allow the DOL's Fiduciary Rule to become effective as currently scheduled on April 10, 2017.
U.S. District Court for the Northern District of Texas Dallas Division Chief Judge Barbara M.G. Lynn denied a motion for summary judgment by the Chamber of Commerce, et. al. to challenge and vacate the heightened fiduciary standards mandated by the DOL fiduciary rule.