Burr & Forman

04.5.2017   |   Blog Articles, Fiduciary Rule, Securities Litigation

Labor Delays Fiduciary Rule

The Department of Labor yesterday adopted a rule delaying the April 10 effective date of its “Fiduciary Rule” for 60 days. The delay gives Labor time to complete the re-study mandated by Trump’s February executive order.

DOL could only delay the Rule through a formal rule making process. It did so, even though public comments ran 12:1 against delay. It will need further formal rule making for any other changes.

Thomas K. Potter, III (tpotter@burr.com) is a partner in the Securities Litigation Practice Group at Burr & Forman, LLP. Tom is licensed in Tennessee, Texas and Louisiana. He has over 30 years’ experience representing financial institutions in litigation, regulatory and compliance matters. See attorney profile.

© 2017 by Thomas K. Potter, III (all rights reserved).

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