Tag Archives: Fiduciary Duty Rule
States May Be Enacting Their Own Fiduciary Duty Rules: Are You Covered Under Your E&O Policy?
With full implementation of the DOL Fiduciary Duty Rule pushed back to July 1, 2019, questions linger as to whether the Rule will survive at all and, if so, to what extent. Now, state agencies and lawmakers are stepping into … Continue reading
Posted in Department of Labor (DOL), E&O Coverage, Fiduciary Duty Rule, Uncategorized
Tagged Capital Markets, DOL, E&O, Fiduciary Duty Rule
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DOL Moves Step Closer to 18-Month Delay on Fiduciary Duty Rule and BICE
On August 28, 2017, the Office of Management and Budget (OMB) approved the Department of Labor’s (DOL) proposal to delay the full applicability dates of the Fiduciary Duty Rule and the Best Interest Contract Exemption (BICE). The proposal still must … Continue reading
Acosta and New DOL FAQs Confirm: Fiduciary Standard Will Take Effect June 9, But Expect Changes to the DOL Rule Before January 1, 2018
On May 22, 2017, new DOL Secretary Alexander Acosta published an Op-Ed piece in the Wall Street Journal (found here; a subscription to the Journal is required to access the piece), confirming that, as we previously suspected, the DOL will … Continue reading
Are You Ready to Comply With the DOL Fiduciary Duty Rule If It Goes Into Effect on April 10? (Part III: Your E&O Policy)
We are now two weeks from the still-current April 10 implementation date of Department of Labor’s (DOL) Fiduciary Duty Rule. The DOL is still considering a proposed 60-day delay, but that delay might not be approved before April 10. And, … Continue reading
DOL’s Temporary Enforcement Policy Brings Cold Comfort
The Department of Labor’s (DOL) Temporary Enforcement Policy on the Fiduciary Duty Rule published on March 10, 2017 (Temporary Policy) has, from our point of view, little impact and serves merely to confuse. The Temporary Policy seems to imply that the … Continue reading
Posted in Department of Labor (DOL), Fiduciary Duty Rule, Uncategorized
Tagged Department of Labor, DOL, Fiduciary Duty Rule
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Are You Ready to Comply With the DOL Fiduciary Duty Rule If It Goes Into Effect on April 10? (Part II: The BICE)
We are now five weeks from the still-current April 10 implementation date of United States Department of Labor’s (DOL) Fiduciary Duty Rule. Yes, a delay still seems very likely. On March 1, the DOL issued a proposed rule that would … Continue reading
Are You Ready to Comply With the DOL Fiduciary Duty Rule If It Goes Into Effect on April 10?
We are now six weeks from the April 10 implementation date of DOL’s Fiduciary Duty Rule. While the DOL has filed a proposal to delay the implementation date with the Office of Management and Budget (OMB), and while the industry … Continue reading
Posted in Department of Labor (DOL), Uncategorized
Tagged Department of Labor, DOL, Fiduciary Duty Rule
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Trump Picks Acosta to Lead DOL
On February 16, 2017, President Trump nominated R. Alexander Acosta for Secretary of the Department of Labor. Acosta had been identified on the shortlist of potential replacements for the DOL after Andrew Puzder withdrew from consideration. (Our post on Puzder’s … Continue reading
DOL Nominee Puzder Withdraws
On Wednesday, February 15, Andrew Puzder, President Trump’s nominee for Secretary of the Department of Labor, withdrew his name from consideration for the post. The withdrawal came after Senate Republicans had balked at supporting Puzder, based in part on his … Continue reading
Posted in Department of Labor (DOL), Fiduciary Duty Rule, Uncategorized
Tagged Department of Labor, DOL, Fiduciary Duty Rule
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Federal District Court Upholds DOL Fiduciary Duty Rule
On Wednesday, February 8, the United States District Court, Northern District of Texas upheld the Department of Labor’s Fiduciary Duty Rule. The Order may be found here. The implications of the Order are unclear, given last Friday’s Presidential Memorandum directing the … Continue reading
Dan Supalla
Lauren Lonergan