Wednesday, February 24, 2021

DOL Advice Rule Compliance Will Be 'Heavy Lift'

DOL Advice Rule Compliance Will Be 'Heavy Lift'

The DOL rule took effect Tuesday, but the department and the Internal Revenue Service are both deferring compliance with the new rules until Dec. 20 as long as the “impartial conduct standards” are met. That means the recommendation is made to a best interest standard, it has no materially misleading statements and reasonable compensation.

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