President Trump Calls for a Review of DOL’s Fiduciary Rule

Robinson & Cole LLP
Contact

On February 3, 2017, President Trump signed a presidential memorandum (Memorandum) ordering the U.S. Department of Labor (DOL) to review its conflict of interest rule defining the term “fiduciary” for retirement investment advice purposes (commonly referred to as the “fiduciary rule”). The Memorandum directs the DOL to prepare an updated economic and legal analysis to determine whether the fiduciary rule is likely to harm investors, disrupt the retirement services industry, or cause an increase in litigation. The Memorandum does not, however, contain an explicit delay of the April 10, 2017, implementation date. Instead, the DOL has responded through a news release stating, “The Department of Labor will now consider its legal options to delay the applicability date as we comply with the President’s memorandum.”

Please see full publication below for more information.

LOADING PDF: If there are any problems, click here to download the file.

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Robinson & Cole LLP | Attorney Advertising

Written by:

Robinson & Cole LLP
Contact
more
less

Robinson & Cole LLP on:

Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
Custom Email Digest
- hide
- hide