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Industry requesting longer delay of fiduciary rule

Some service providers are delaying notification to plan sponsors.

By Nick Thornton | Updated on March 24, 2017
Some service providers are delaying notification to plan sponsors. (Photo: iStock)

A large faction of financial services and insurance industry stakeholders have asked the Labor Department to delay implementation of the fiduciary rule beyond the proposed 60 days. 

The Securities Industry and Financial Markets Association, Spark Institute, National Association for Fixed Annuities, and the Insured Retirement Institute are among the industry organizations lobbying for a 180-day delay of the rule’s April 10 implementation date. The American Retirement Association has requested the first implementation date be delayed until January 1, 2018.

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Nick Thornton

Nick Thornton

Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.

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