DOL Issues Final Rule Delaying Applicability Date of Fiduciary Rule and Related Prohibited Transaction Exemptions | Practical Law
On April 4, 2017, the Department of Labor (DOL) issued a final rule that delays by 60 days the applicability of the final fiduciary investment advice regulation that replaces the existing regulatory interpretation of fiduciary investment advice under Section 3(21)(A)(ii) of the Employee Retirement Income Security Act of 1974 (ERISA) (fiduciary rule) and the related prohibited transaction exemptions.