When Mark Twain learned that a newspaper had mistakenly printed his obituary, he reportedly responded by saying “Reports of my death are greatly exaggerated.” We could say the same about the Department of Labor’s Fiduciary Rule (the Rule), although it may be on life support.
Update: As of April 4, 2017, the Department of Labor finalized a 60-day delay to the effective date of the new fiduciary rule (the Rule). The Rule was originally set to take effect April 10, 2017, but as a result of the delay, will become effective June 9, 2017. The delay is in response to President Trump's directive that the DOL review and report on how the Rule may negatively impact consumers.