Securities,
Banking,
Administrative/Regulatory
Jun. 9, 2017
Fiduciary rule for retirement investors set to take effect
Beginning June 9, brokerage houses and other retail market financial firms must adhere to "impartial conduct standards" when dealing with retail retirement investors.
Doreen E. Lilienfeld
practice group leader of the Compensation, Governance & ERISA Group
Shearman & Sterling LLP
599 Lexington Ave
New York , CA 10022
Phone: (212) 848-7171
Fax: (646) 848-7171
Benjamin N Cardozo School of Law
Doreen Lilienfeld is the practice group leader of the Compensation, Governance & ERISA Group at Shearman & Sterling LLP
Matthew H. Behrens
Knowledge Management Attorney
Shearman & Sterling LLP
Matthew is the knowledge management attorney for the Compensation, Governance & ERISA Group.
Secretary of Labor Alexander Acosta announced in a Wall Street Journal op-ed published on May 22 that the Department of Labor has found no "principled legal basis" to further delay the June 9 applicability date of its "fiduciary rule." The DOL had previously pushed back the start of the rule in response to a White House directive demanding further study of the rule's impact on retail retirement markets.
Beginning June 9, brokerage houses and other financial firms serving the retail ...
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