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The final delay in the implementation of the high-profile rule gives the department additional time to consider feedback and criticism from the industry, while also examining President Donald Trump's concerns...
The U.S. Department of Labor issued an 18-month-delay for
elements of its fiduciary rule, including provisions such as
exemptions for best-interest contracts and principal transactions,
as well as amendments to prohibited transaction exemptions, which
are now scheduled to take effect on July 1, 2019. The final delay
in the implementation of the high-profile rule gives the department
additional time to consider feedback and criticism from the
industry, while also examining President Donald Trump's
concerns regarding the potential cost of compliance for the wealth
management industry and investors.
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