On August 9, 2017, the Department of Labor submitted proposed amendments to the Best Interest Contract Exemption (BICE), Class Exemption for Principal Transactions and Prohibited Transaction Exemption 84-24, to delay applicability under the Fiduciary Rule from January 1, 2018 to July 1, 2019.
In the meantime, we will continue to monitor the Department of Labor’s (and the SEC’s) actions in this area, and will keep you informed of any changes to the Fiduciary Rule and Applicability Date.
Please also refer to these prior posts regarding the Fiduciary Rule:
- The Department of Labor Delays the New Fiduciary Rule – 04/14/2017
- DOL Issues Temporary Enforcement Policy on Fiduciary Rule – 03/14/17
- DOL Adopts Proposal to Delay the Fiduciary Rule – 03/01/2017
- Division of Investment Management Provides FAQs on Mutual Fund Fee Structures – 02/22/2017
- Division of Investment Management Provides Interpretive Guidance on Section 22(d) Restrictions – 01/13/2017
- Division of Investment Management Provides Guidance on “Mutual Fund Fee Structures” – 12/15/2016
- The New Fiduciary Rule’s Effect on Investment Managers – 05/27/2016