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Law360 Quotes Tax & Benefits Attorney Quoted on Implementation of the Fiduciary Rule

Practices: Investment Management, Private Investment Funds, Hedge Funds, Asset Management, ERISA, Executive Compensation & Employee Benefits

Law360 reports on DOL Secretary Alexander Acosta’s announcement that the agency won’t delay the rule any further, published an op-ed in The Wall Street Journal late Monday. Coinciding with Secretary Acosta’s piece, The Labor Department also published a bulletin and a series of FAQs to aid with compliance efforts. “The packet, taken together, was very helpful because there were still lingering questions about whether the June 9 applicability date was going to stick,” said tax & benefits associate Josh Lichtenstein (New York) in the article. Mr. Lichtenstein also noted that the FAQs the DOL published on Monday contemplated granting additional time past Jan. 1, 2018, for compliance, as well as creating new, streamlined exemptions for firms using new innovations.

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