Joan Neri was quoted in an article published in ACA Insight, an investment management compliance news source, regarding the Department of Labor (DOL)’s recent proposal to extend the fiduciary rule transition period. Noting that compliance with the “impartial conduct standards” is required during the current transition period, Joan pointed out that the DOL has indicated that it expects financial institutions to adopt policies and procedures to ensure compliance with these standards. Joan explains that the DOL “may view this as a requirement to show that advisers are, in fact, ‘working diligently and in good faith to comply’ with the Rule.”
Read “DOL Proposes Fiduciary Rule Exemptions Delay, Considers Further Measures.” (subscription required)
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