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Warner Norcross + Judd LLP is a corporate law firm with over 230 attorneys serving clients in nine offices throughout Michigan. Among the largest law firms in Michigan, Warner works in virtually all areas of business law.

Michigan Law Firm - Warner Norcross + Judd LLP

This afternoon, President Trump signed a presidential memorandum order imposing a 180-day delay of the Department of Labor’s (DOL) “Fiduciary Rule.” The order directs the DOL to cease implementation of, and completely reevaluate, the Fiduciary Rule. The President expects the DOL to either significantly change or rescind the Fiduciary Rule.

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The Fiduciary Rule, originally effective June 7, 2016, was scheduled to become applicable on April 10, 2017, with full compliance required beginning January 1, 2018.&nbsp; The Fiduciary Rule extended the ERISA fiduciary standard of care to broker-dealers, investment advisers, insurance agents, banks, and other advisors to retirement plans and IRAs.

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We will keep you posted with any further developments.&nbsp; If you have any questions in the meantime, please contact Lisa Zimmer at <a href="mailto:lzimmer@wnj.com">lzimmer@wnj.com</a> or 248.784.5191 or Shane Hansen at <a href="mailto:shansen@wnj.com">shansen@wnj.com</a> or 616.752.2145.

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DOL Fiduciary Rule Delayed

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DOL Fiduciary Rule Delayed

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