In what likely comes as frustrating news for a lot of the wealth management industry, it is time to start worrying once again about the return of the fiduciary rule. And we are not talking about state level rules, or new interpretations of the SEC rule, we mean the old DOL rule itself. The DOL announced towards the end of 2018 that it was planning to re-release a new version of the rule in fall of 2019. However, it had been quiet until now. This week, a top industry lawyer has commented that the DOL is again working on new fiduciary regulations and may launch in tandem with the SEC, though specifics are lacking.
FINSUM: So what do we know? Firstly, we know the DOL said it would re-release the rule in the fall of this year. We also know that it seems to be actively working on crafting new fiduciary regulation. We’ll let you put two and two together.