The Securities and Exchange Commission and the Labor Departmentwill likely release simultaneously in the fall their fiduciary ruleproposals, prominent ERISA attorneys say.
Fall “is a reasonable estimate,” said Brad Campbell, former headof Labor's Employee Benefits Security Administration, who's nowcounsel with Drinker Biddle & Reath, during the firm's recentInside the Beltway webcast.
“If you assume that they [Labor] needs to complete their changesby July 2019, which is when the deferred provisions of the currentexemptions – the most onerous parts” of Labor's fiduciary rule takeeffect, fall “really is the deadline for action by DOL.”
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