NEW ORLEANS – While the Department of Labor has announced that it will re-propose its fiduciary rule by this August, most industry insiders think that the recrafted regulation will come out at the beginning of 2015.
That was the consensus Monday among the panel members at the NAPA 401(k) session on "The Fiduciary Definition — What It Means Now, the Implications of the DOL Re-Proposal and Current Industry Trends."
The financial services industry's concern about the fiduciary rule centers on "prohibitive transactions," said Edward M. Lynch, a partner the law firm Drinker, Briddle and Reath.
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