The Delay of the January 2018 Applicability Date


SIFMA provided comments to the Department of Labor’s (DOL) “Request for Information Regarding the Fiduciary Rule and Prohibited Transaction Exemptions,” published in the Federal Register on July 6, 2017.

The Department should issue a delay of the January 1, 2018 applicability date of the exemptions as soon as possible for the following reasons:

  • To allow time for the Department to complete review of the entire Rule per the President’s Memo (as defined below);
  • To allow firms time to implement systems that will operationalize the Rule while easing transitions for their clients;
  • To allow the Department and the SEC to craft a solution that works for all investors; and
  • To ensure individuals will continue to receive the help necessary to save for retirement so they do not suffer unnecessary financial losses due to lack of assistance.

See also:
Presidential Memorandum on Fiduciary Duty Rule


Submitted To

Department of Labor (DOL)

Submitted By