Featured on Employment Law This Week: The Department of Labor’s Fiduciary Rule will go into effect on June 9th.
The controversial rule will require financial professionals who advise clients on retirement accounts to promote suitable products and act in the best interests of their clients. Secretary of Labor Alexander Acosta announced in a Wall Street Journal op-ed that there is “no principled legal basis” to delay the rule, although full enforcement won’t begin until 2018. The department intends to issue a Request for Information to seek public opinion on revisions and related exemptions.
Watch the segment below and read our recent post.