The Countdown Is On…What’s Your DOL Game Plan?
On June 9, 2017, firms must be compliant with the core elements of the Department of Labor (DOL) Fiduciary Rule change. Many in our industry heard the word “delay” and interpreted that to mean stop. What is your firm doing to be prepared?
The new, expansive definition of fiduciary investment advice and the impartial conduct standards are scheduled to take effect in less than 60 days. The Best Interest Contract (BIC) Exemption becomes available on June 9, but only the impartial conduct standards apply until January 1, 2018. This means that during the transition period, when providing investment recommendations subject to the BIC Exemption, firms and their representatives must adhere to the impartial conduct standards.
Join Oyster Consulting as our panelists discuss this and other questions firms have regarding:
- What goes into effect in June:
- What constitutes fiduciary advice
- What you should know about the Impartial Conduct Standards
- What exceptions to fiduciary status become applicable
- What procedures and training do you need?
- What firms must do before June 9th
Please send your questions, in advance, to Libby Hall at Oyster Consulting, email@example.com
For more information about how Oyster Consulting can assist your firm with its regulatory compliance needs, complete our contact form or call us at 804.965.5400 and one of our Relationship Managers will be happy to help you.