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The Inside Scoop on The DOL

Posted by Vanderbilt Financial Group on 12/22/16 10:29 AM

On December 13th Vanderbilt Chief Compliance Officer, Barry Champney was invited to participate in a Round Table Discussion in New York City around the issue of The DOL Fiduciary Rule. Top CCO’s, CEO’s, Compliance Personnel, and Attorneys who are focusing on the DOL issue were invited to come together for a collaborative discussion to share insights and questions.


Barry says, "the key takeaway is that most industry people familiar with the issue believe that the most logical step by the new administration is to enact a delay of some kind. Revocation or revision would not be possible by April 10th due to the fact that the rule is already effective. The mechanics of those strategies would take too long to be completed by April 10th, 2017."
What Does This Mean? 

While the rule will not be canceled or changed before the spring, we will probably have more time than we thought. The process of making major changes to the proposed rule will take much longer than 4 months, so once again we find ourselves extending our once perceived deadline, and breathing a (shallow) sigh of relief.

Got Questions for Barry? Let us Know! 

Click the button below to ask Barry your DOL Fiduciary Rule questions. Just leave your question along with your email address and we will shoot his answer right back to you!

Question for Barry

As part of Vanderbilt’s dedication to monitoring the situation, staying educated, and exploring options, we’ve continued to share helpful blogs like this.

Check out some of our other thoughts on the DOL like;

Topics: DOL Fiduciary Rule

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