Sentences with phrase «applicability date»

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.

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.

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.

On the benefits side, the 60 - day delay of the April 10 applicability date will avert the possibility of a costly and disorderly transition to the Impartial Conduct Standards on April 10.

The date «April 10, 2017» is deleted and «June 9, 2017» is inserted in its place as the Applicability date in the introductory DATES section of the exemption.

One of the main reasons offered by commenters and petitioners in support of a delay of the applicability date of the Fiduciary Rule and PTEs is that the Department needs time to properly conduct the analysis required by the President's Memorandum.

This document's delay of the applicability dates as described above should not be viewed as prejudging the outcome of the examination.

It also extends for 60 days the applicability dates of the Best Interest Contract Exemption and the Class Exemption for Principal Transactions in Certain Assets Between Investment Advice Fiduciaries and Employee Benefit Plans and IRAs.

For purposes of the Unfunded Mandates Reform Act, as well as Executive Order 12875, the final rule extending the applicability date does not include any federal mandate that we expect would result in such expenditures by State, local, or tribal governments, or the private sector.

The final rule extending the applicability date is subject to the Congressional Review Act (CRA) provisions of the Small Business Regulatory Enforcement Fairness Act of 1996 (5 U.S.C. 801 et seq.) and will be transmitted to Congress and the Comptroller General for review.

Today's final rule will produce more cost savings for firms than a 60 - day delay of the PTEs» applicability date would alone, because many exemption conditions would not have to be met until January 1, 2018.

More generally, however, it is unclear what proportion of start - up costs might be avoided as a result of this final rule's delay of applicability dates.

Applicability dates: See Section E of the SUPPLEMENTARY INFORMATION section for dates for the prohibited transaction exemptions.

In accordance with that memorandum, the Department published in the Federal Register on March 2, 2017, at 82 FR 12319, a document seeking comment on a proposed 60 - day extension of the applicability dates of the Fiduciary Rule and PTEs until June 9, 2017 (NPRM).