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.
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