Faculty Publications

Title

Labor Secretary Acosta Concedes Fiduciary Rule Cannot Be Legally Stopped Before June 9th

Document Type

Article

Publication Date

5-23-2017

Abstract

It looks like the wait is finally over as Labor Secretary Alexander Acosta stated in an opinion piece for The Wall Street Journal today that the Department of Labor has “found no principled legal basis to change the June 9 date[.]” While full implementation does not kick in until January 1, 2018, the major changes to the financial services industry will now occur by June 9, 2017, especially product and fee related changes.