Fiduciary rule guidance for financial advisors, retirement plan sponsors, and individual workers and retirees has been published by the DOL. This information comes in advance of the rule’s June 9 applicability date.

On April 7, 2017, the Department announced that the applicability dates in its Fiduciary Rule and related prohibited transaction exemptions would be delayed from April 10, 2017 to June 9, 2017, with certain provisions in the exemptions further delayed to January 1, 2018. As a result, on June 9, 2017, investment advice providers to retirement savers will become fiduciaries, and the “impartial conduct standards” will become requirements of the exemptions. Other exemption conditions scheduled to become applicable on April 10, 2017, will be delayed to January 1, 2018, while the Department conducts its ongoing examination of the Fiduciary Rule as directed by President Donald J. Trump.

The FAQs in the following link provide additional information on the transition period from June 9, 2017 to January 1, 2018: https://www.dol.gov/sites/default/files/ebsa/about-ebsa/our-activities/resource-center/faqs/coi-transition-period.pdf