The US Department of Labor has announced a proposed extension of the applicability dates of the fiduciary rule from April 10 to June 9, 2017 (read our prior blog post here) The proposal, issued March 1, comes in response to a directive from President Donald Trump to review the rule. The proposed extension is intended to give the department time to collect and consider information related to the issues raised in the memorandum before the rule and exemptions become applicable.
The department is offering a short period of time-15 days-for comments on its proposal. The DOL will also be taking comments for 45 days on the issues raised in Trump’s memo.
