Chicago’s Michael Renetzky, Partner and Co-Chair of the Firm's Corporate and Transactional Department, commented on the U.S. Department of Labor’s declaration that the agency is planning to delay parts of the fiduciary rule for another 18 months. The agency said it plans to implement those parts in July 2019.
Renetzky said: “There is too much invested in the Rule on the part of the DOL to simply scrap it without further analysis and delay. Also, it is not clear that they could eliminate the Rule without further analysis — and that analysis takes more time.”
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