A Big Investor Protection Rule Just Got Pushed Back. Here’s How That Affects You

The drama around an embattled set of new investor protection rules is far from over.

On Tuesday, the Department of Labor won an 18-month delay on the implementation of the remaining portions of the so-called fiduciary rule—the set of regulations requiring financial advisors to act in your best interests.

 While the fiduciary standard is in effect, much of the fine print is still uncertain. “The delay means that a number of disclosures won’t be required during the transition period,” says attorney Fred Reish, a partner with Drinker Biddle specializing in fiduciary issues. That transition period will now extend into 2019.

The uncertainty stems largely from the rule’s two-phase rollout. While the Obama administration pushed through the long-awaited rule last year, the agency in charge of the regulation—the Department of Labor—gave the industry some time to implement the new standards. The first phase of the rule rolled out in June 2017, and the second was slated to go into effect in January 2018.

Source: Time Money

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