Fiduciary (DOL) - The final rule defines who is considered a fiduciary investment adviser, describes the kinds of communications that would constitute investment advice, and adopts new exemptions to permit investment advice fiduciaries to continue to receive compensation under certain circumstances.  Compliance with the new requirements will not be required until April 10, 2017.  Exemptions will be phased in, with full compliance by January 1, 2018.  The full text of the rule is now in the Federal Register.

Resources to assist credit unions with compliance on this rule can be found on the DOL’s website.