DOL Fiduciary Rule Goes Into Effect (sort of)
On June 9, the fiduciary rules that the Department of Labor proposed in 2016 took over in the financial world. Sort of. The reason I say “sort of” is that the DOL has said that they won’t enforce the new rules until January 1, 2018. It’s like the State Patrol posting a speed limit sign that says “Speed Limit 55” and then posting a sign right after it that says “Enforcement Begins in Six Months.” Screwy I know. But this is what we should expect for the next few months when it comes to this federal policy.