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What's Next for the DOL's Fiduciary Rule?
Shearman & Sterling LLP Link to more items from this source
Dec. 1, 2016

"The final rule has already had a major impact on the financial services industry. Broadly, the industry has sorted itself into two camps: those financial institutions that will no longer offer commission-based products to their retail retirement clients; and those who will rely on the DOL's so-called 'best interest contract' or 'BIC' exemption to continue to accept third-party payments and pay brokers and private wealth managers on a commissioned basis.... Outlined [in this article] are options available to the President and Congress should they align with the rule's many detractors and elect to repeal, revise or delay the rule's applicability."

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