Dept of Labor Proposes 60-Day Delay on Fiduciary Rule

On March 1, 2017, the Department of Labor released a proposed rule to extend for sixty days the applicability date of the Fiduciary Rule. It was widely expected that the delay would be six months so the sixty-day delay is somewhat of a surprise. This proposal, which includes a 15-day comment period, would extend the effective date from April 10th to June 9th. We will keep you updated as the more details become available.