Legal

What you need to know about the fiduciary rule delay, the surprising decision to delay the requirement for written acknowledgements, and why both opponents and proponents aren't happy.

The DOL has issued a final rule to delay the compliance date for its fiduciary rule by 60 days.

As the OMB conducts last-minute meetings with fiduciary rule supporters, the ability to delay the fiduciary rule's implementation date before April 10 is not totally under DOL control.

New IRS guidance is 'meant to sync up the IRS' enforcement of the excise tax rules on prohibited transactions with the DOL's non-enforcement policy,' an attorney with Drinker, Biddle & Reath says.

The Senate voted to repeal the safe harbor for municipal retirement plans, similar to the safe harbor the DOL created for state-administered auto-IRA plans.

Under the fiduciary rules private right of action provision, IRA investors can bring class action claims if the Best Interest Contract Exemption which includes a warranty guaranteeing a fiduciary standard of care for advice on IRA investments -- is breached.