DOL Issues Enforcement Bulletin

On Monday, May 22, the US Department of Labor (DOL) issued a Field Assistance Bulletin No. 2017-2 to outline its enforcement policy in light of the announcement by DOL Secretary Alexander Acosta that the DOL will not delay its previously announced June 9 initial effective date for certain provisions of the DOL Fiduciary Rule.

In its announcement, the DOL indicated that, during the phased-in implementation period ending January 1, 2018, the DOL “will not pursue claims against fiduciaries who are working diligently and in good faith to comply with the fiduciary rule and exemptions, or treat those fiduciaries as being in violation of the fiduciary rule and exemptions.”

A copy of the DOL Field Assistance Bulletin can be found here.