"Our members have spent hundreds of millions of dollars getting ready to comply with the Rule, and a group of our largest members alone estimate that they would need to spend an additional $300 million to be ready for the April 2017 compliance deadline. If the entire industry is in roughly the same position, more than a billion dollars must still be spent to be ready for the April applicability date. Further, members need to plan for the January 2018 compliance date. Without a corresponding extension of the transition period, members will continue to expend substantial resources."  MORE >>