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DOL’s fiduciary rule’s definitions applied as of June 9th
June 9, 2017
On June 9th , the fiduciary rule’s amended definition of fiduciary advice will first apply and the BIC Exemption and Principal Transactions Exemption will become available to fiduciary advisers. At the outset, however, and for a transition period extending until January 1, 2018, fewer conditions will apply to financial institutions and advisers that seek to rely upon the exemptions. For further information, go to the US Labor Dept. website.