A prominent fiduciary expert is predicting that the January 1, 2018 scheduled compliance date for the Labor Department’s fiduciary rule’s prohibited transaction exemptions will be delayed for up to a year.
Writing in a blog post, Fred Reish, chair of the financial services ERISA Team at Drinker Biddle & Reath, said the extent of the review of the rule being undertaken by the Labor Department and the requirements of the Administrative Procedures Act make it highly unlikely that a revised regulation will be finalized before the beginning of next year.
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