I really need a scorecard to determine the status of the Department of Labor’s new fiduciary rule because it’s been in a constant state of flux since President trump took over on January 20th.
Secretary of Labor Alexander Acosta said the basic principles of the new rule would indeed take effect on June 9, even as the Department of Labor (DOL) continues to review its finer details.
Why does it all mean? Acosta and his new DOL staff haven’t hand the time to develop a new rule yet that would pull all thee teeth out of the one pushed by Phyllis Borzi that is going into effect on June 9th. So grab some popcorn and get ready for some more changes in a few months.