DOL Extends Transition Period for BICE and Principal Transactions Exemption Until July 1, 2019 | Practical Law
The Department of Labor (DOL) has issued a final rule that extends by 18 months the transition period for the principal transactions prohibited transaction exemption (PTE) and best interest contract exemption (BICE) related to the fiduciary investment advice regulation that replaces the existing regulatory interpretation of fiduciary investment advice under the Employee Retirement Income Security Act of 1974 (ERISA). The final rule also delays by 18 months the applicability date for certain amendments to PTE 84-24.