Insights & News

Investment Management Briefing, August 9, 2017
DOL Fiduciary Rule Transition Period Potentially Extended to July 1, 2019

August 09, 2017
Client Alert
The U.S. Department of Labor (DOL) just informed a federal court that it has submitted to the Office of Management and Budget proposed amendments to the Best Interest Contract (BIC) Exemption, Principal Transactions Exemption and Prohibited Transaction Class Exemption 84-24, which would extend the current “transition period” of these exemptions from Jan. 1, 2018 to July 1, 2019. If adopted as proposed, these amendments would allow fiduciaries to comply with the less onerous conditions currently in effect. Fiduciaries would not have to comply with the other conditions for exemptive relief (e.g., the contract requirement under the BIC Exemption) that would have triggered on Jan. 1, 2018, until July 1, 2019, barring additional action from the DOL. We will provide an update as soon as the proposed amendments become publicly available.

Information contained in this publication should not be construed as legal advice or opinion or as a substitute for the advice of counsel. The articles by these authors may have first appeared in other publications. The content provided is for educational and informational purposes for the use of clients and others who may be interested in the subject matter. We recommend that readers seek specific advice from counsel about particular matters of interest. 


Copyright © 2017 Stradley Ronon Stevens & Young, LLP. All rights reserved.

Related Resources

back to top