Duel over the Rule
“What’s it all about?” you may be asking, hearing the talking heads go on about the Department of Labor Fiduciary Rule. “The Rule,” debated for years, became official under President Obama, and was scheduled to be phased in starting April 10, 2017. The rule expands the “investment advice fiduciary” definition under Employee Retirement Income Security Act of 1974 (ERISA). Meanwhile, a special memorandum issued by President Trump attempted to delay the rule’s implementation by 180 days so that the [...]