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DOL Pushes New Fiduciary Rule to December

Not to be confused with the existing DOL Rule that became effective in 2021 and created PTE 2020-02 and affirmed the use of an older version of PTE 84-24, the Department of Labor plans to issue ANOTHER rule – possibly this December.

The DOL is required to release a semiannual agenda that lists all regulations under active consideration in the one-year period ahead as well as longer-term regulatory actions. The Spring 2022 Regulatory Agenda was just released and shows an item titled "Definition of the Term Fiduciary" with a date of "12/00/2022.

Here is a link to the relevant item:

https://www.reginfo.gov/public/do/eAgendaViewRule?pubId=202204&RIN=1210-AC02

This information is provided with the permission of Summit Compliance Group.

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