Proposed Rule and Extension of Applicability Date Concerning the Definition of the Term “Fiduciary”

SIFMA’s Asset Management Group (SIFMA AMG) provides comments to the U.S. Department of Labor’s (DOL) Employee Benefits Security Administration on (1) the questions posed in its Proposed Rule and Extension of Applicability Date, dated February 27, 2017 concerning the Definition of the Term ‘‘Fiduciary’’; Conflict of Interest Rule—Retirement Investment Advice and related exemptions, including the Best Interest Contract Exemption (BIC Exemption) to address questions of law and policy, and (2) questions posed by the President’s Memorandum to the Secretary of Labor, dated February 3, 2017, directing the Department to examine whether the Fiduciary Rule may adversely affect the ability of Americans to gain access to retirement information and financial advice, and to prepare an updated economic and legal analysis concerning the likely impact of the Fiduciary Rule as part of that examination.

Also see:

SIFMA Submits Comments to EBSA Re RIN 1210-AB79; Proposed Delay and Reconsideration of DOL Regulation Redefining the Term “Fiduciary” – April 17, 2017