DOL has indicated that the final rule will be released in the first half of the year.
The US Department of Labor (DOL) sent its final Conflict of Interest Rule—Investment Advice (with related exemptions and amendments to existing exemptions) to the President’s Office of Management and Budget (OMB) for review. This timing is consistent with the DOL’s indications that it will release the final rule in the first half of 2016.
OMB received the final rule on January 28. The OMB review period is limited by Executive Order to 90 days, subject to extensions, but the actual review time could be significantly shorter. For example, a 60-day review period could result in the final rule being released in early April.
Released in April 2015, the proposed rule
Morgan Lewis is continuing to closely follow this rulemaking process and will provide updates on new developments as they occur. Click on any of the links below to read prior Morgan Lewis thought leadership covering last year’s proposed rule:
If you have any questions or would like more information on the issues discussed in this LawFlash, please contact any of the following Morgan Lewis lawyers:
Lisa H. Barton
David B. Zelikoff