This month’s Compliance Corner blog entry will focus on frequently asked questions we are receiving considering the June 9th implementation of DOL’s Fiduciary Rule, specifically at it relates to PTE 84-24 and business submitted to FIG.
June 9th came and went without the sky falling, as some had predicted. I’m not suggesting that things didn’t change in our industry, but business did not come to a grinding halt. We find ourselves in a new environment where the DOL’s Impartial Conduct Standards rules the day. While we generally operated in the spirit of the Impartial Conducts Standards anyway, the primary requirement that came of the June 9th implementation boiled down to one new document, the Disclosure Statement.