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News
May 23, 2017

Department of Labor To Move Forward With Fiduciary Rule

In an opinion piece for the Wall Street Journal the Secretary of Labor, Alex Acosta, said that “the Labor Department [DOL] has concluded that it is necessary to seek additional public input on the entire Fiduciary Rule,” which critics say would limit choice of investment advice, limit freedom of contract, and enforce these limits through new legal remedies that would likely be a boon to trial attorneys at the expense of investors.

After careful consideration, according to Acosta, for DOL has confirmed that the Fiduciary Rule will go into partial effect on June 9th while the department seeks public input. Full implementation of the law is currently scheduled for January 1, 2018.

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