ECA wants to assure you that as a result of the delay our annuity and insurance business will continue as normal until the initial requirements become effective on June 9th and that we are continuing our preparations to ensure compliance with the Fiduciary Rules.
It is also important to understand that there is speculation that the appointment of R. Alexander Acosta as Secretary of Labor will result in further delays of the Fiduciary Rules while the DOL complies with the Presidential Memorandum on the Fiduciary Rule. As such, ECA will continue to monitor official sources and provide material updates to our agents as they occur.In an official notice on Tuesday, April 4th, the Department of Labor delayed the effective date of its Fiduciary Rules and the related exemptions. The effective date has been moved from April 10th to June 9th, 2017. Although not scheduled to be published in the federal register until Friday, April 7th, the full extension notice can be read on the EBSA website.