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Everyone worried [worried!??] about full implementation of the Fiduciary Rule can now forget about it happening on Jan. 1, 2018. The new target date is July 1, 2019 – a full 18 months later. ...
“The effect of this development means that fixed indexed annuities will continue to be allowed to be sold under PTE 84-24 for at least this extended transition period, rather than being placed under the wholly unworkable Best Interest Contract Exemption on January 1, 2018,” said Chip Anderson, Executive Director of the National Association for Fixed Annuities (NAFA).
Comments
NYTimes: "[The fiduciary rule] will become partially effective in June before being fully implemented on Jan. 1, 2018."
See: http://ifn.insurance-forums.net/annuities/fixed-indexed-annuities/phase-two-of-fiduciary-rule-implementation-to-be-delayed-eighteen-months/
Thank you for the update. The lobbyist's have been busy, I suspect.