DOL Finalizes Fiduciary Rule

News Image 04-07-2016

Yesterday the U.S. Department of Labor (“DOL”) published the final Conflict of Interest Rule, also known as the Fiduciary Rule (“Rule”). The Rule imposes fiduciary status on financial professionals who provide valuable advice to retirement savers. Now that it's been issued, we want to help you understand what's included.

The Rule Includes:

  • A regulation fundamentally redefining who could be considered a "fiduciary" by reason of providing investment advice to a plan or an IRA.
  • New Prohibited Transaction Exemptions (PTEs)
  • Amendments to a number of existing PTEs.
The Final Rule is:
  • Effective 60 days after publication in the Federal Register with an
  • Applicability date of April 10, 2017 and
  • Full Best Interest Contract Exemption (BICE) compliance by January 1, 2018
Further Analysis:
BUA has been following the Rule and its impact on our business since it was proposed last spring. Now with the release of the final Rule, we are reviewing it thoroughly with multiple legal and industry experts and will provide further communications once our analysis has been completed.

Your Business – Our Support:
BUA has a long and successful history of responding and adapting to significant regulatory changes and this new regulation is no exception. We are excited for the opportunity to meet your changing needs, as well as those of your firm and the market.

What You Can Expect:
Look for additional updates from BUA as we continue to review the Rule.

In the meantime, let BUA know how we can help you grow your business today by calling us at 1.800.792.6795.



Business Underwriters Associates
Phone: 330.576.1100
Toll Free: 1.800.792.6795