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Key Points on the Fiduciary Rule Phase-In
Morningstar; free registration may be required Link to more items from this source
May 24, 2017

"The new definitions of who is a fiduciary will go into effect along with the impartial conduct standards on June 9 ... [T]here was always supposed to be a transition period for firms to be fully compliant with the best-interest contract exemption. That transition will now be easier.... [T]he department clarified that financial institutions have flexibility in designing their internal systems to ensure that their advisors give best-interest advice during the transition.... [T]he most likely area for adjustment is around the use of class action lawsuits as an enforcement mechanism."

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