There is not even a DOL secretary yet, and indeed, even if the 15 - day comment period stands and the DOL delays the fiduciary rule's initial implementation for two months, a June applicability date still presents a significant challenge for firms that have not fully prepared themselves for compliance. (planadviser.com)
As indicated above, if, after receiving comments on Start Printed Page 16907the issues raised by the President's Memorandum, the Department concludes that significant changes are necessary or that it needs more time to complete its review, it retains the ability to further extend the January 1, 2018 applicability dates or to grant additional interim relief, such as more streamlined PTEs, as it finalizes its review and decides whether to make more general changes to the Rule or PTEs. (federalregister.gov)
Delaying the applicability date of the Rule and PTEs would result in cost savings due to foregone costs of complying for 60 days with the new PTE conditions. (federalregister.gov)