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2Q17: The “New” Fiduciary Rule

June 2017
By Fred Reish

Fred discusses the implications of the fiduciary rule that goes into effect June 9.

The new fiduciary rule applies on June 9: What does it mean?

After all the back-and-forth, including a Presidential memorandum and a delay of the rule on May 22 the DOL announced that the new regulation defining fiduciary investment advice for plans, participants and IRAs, will apply on June 9, without further delay. The rule is identical to the final regulation adopted in 2016, and which was to apply on April 10, 2017. However, as other articles in this newsletter explain, the prohibited transaction exemptions have been changed in significant ways. But, the focus of this article is the fiduciary rule.

Fred Reish is an ERISA attorney whose practice focuses on fiduciary responsibility, retirement income, and plan operational issues. He has been recognized as one of the “legends” of the retirement industry by both PLANADVISER magazine and PLANSPONSOR magazine.

The views expressed here are those of Fred Reish. They should not be construed as investment advice or as the views of Hartford Funds or the employees of Hartford Funds. They are based on available information and are subject to change without notice. The information above is intended as general information and is not intended to provide, nor may it be construed as providing, tax, accounting or legal advice. As with all matters of a tax or legal nature, please consult with your tax or legal counsel for advice. This material and/or its contents are current at the time of writing and may not be reproduced or distributed in whole or in part, for any purpose, without the express written consent of Fred Reish.

All investments are subject to risk, including the possible loss of principal.

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