Posts made in May 2017

By Sheri A. Creger, CPFA | May 23, 2017

On May 22, our Labor Secretary Alexander Acosta penned an Op-Ed Piece for the Wall Street Journal and “threw in the towel” in his effort to delay the application date of the Fiduciary Rule.  Barring any additional developments or further delays, the Fiduciary Rule will now become applicable, as scheduled, on June 9, although certain provisions do not become applicable until January 2018.

In the Wall Street Journal piece, Acosta indicated that the Department of Labor “carefully considered the record in this case, and the requirements of the Administrative Procedure Act, and have found no principled legal basis to change the June 9 date while we seek public input.  Respect for the rule of law leads us to the conclusion that this date cannot be postponed.”

The DOL has prepared updated guidance regarding the rule on their website, including FAQs.

• WSJ: Deregulators Must Follow the Law, So Regulators Will Too
• New Fiduciary Rule Guidance From US Labor Department
• DOL Conflict of Interest FAQs (Transition Period)

In remembering our heroes, we honor the great sacrifices made for the dreams of every American. May we never forget their strength, courage, and profound willingness to stand up and defend the American way of life. At BFF®, we hope this important holiday finds you and your family well and inspires you to reach for your dreams.

In observance of Memorial Day, our offices will be closed on Monday, May 29th and we will reopen our offices on Tuesday, May 30th at 8:30 AM.