Skip to content

Applicability date for Labor Department 'Conflict of Interest' fiduciary rule


The Department of Labor and the White House have announced the Labor Department's issuance of a "Conflict of Interest" final rule defining who is a “fiduciary” of an employee benefit plan under the Employee Retirement Income Security Act of 1974 (ERISA) as a result of giving investment advice to a plan or its participants or beneficiaries. The final rule also applies to the definition of a “fiduciary” of a plan (including an individual retirement account (IRA)) under the Internal Revenue Code of 1986 (Code). The final rule treats persons who provide investment advice or recommendations for a fee or other compensation with respect to assets of a plan or IRA as fiduciaries in a wider array of advice relationships. The rule will become effective 60 days after publication in the Federal Register, but carries an "applicability date" of April 10, 2017. The Department's Employee Benefits Security Administration has posted a Conflict of Interest Final Rule webpage with key links related to the rule.

UPDATE: The Department of Labor's Employee Benefits Security Administration submitted for Federal Register publication on Friday, April 7, 2017, a final rule delaying the Applicability Date of its rule on Fiduciary Conflicts of Interest -- Retirement Investment Advice, and selected other changes, from April 10, 2017, for 60 days, to June 9, 2017. The effective date of this final rule (delaying the Availability Date and certain other provisions) is April 10, 2017.

Penalties View All

Banker Store View All

From training, policies, forms, and publications, to office products and occasional gifts, it’s available here:

Banker Store

hot right now

image description

Looking for effective, convenient training on a particular subject?

BOL Learning Connect offers more than 200 courses ON-DEMAND or on CD ROM from AML to Reg Z and every topic in between.

Compliance Deadlines

By Status