{"abstract":"This document proposes to extend for 60 days the applicability date defining who is a \"fiduciary\" under the Employee Retirement Income Security Act (ERISA) and the Internal Revenue Code of 1986 (Code), and the applicability date of related prohibited transaction exemptions including the Best Interest Contract Exemption and amended prohibited transaction exemptions (collectively PTEs) to address questions of law and policy. The final rule, entitled Definition of the Term \"Fiduciary;\" Conflict of Interest Rule--Retirement Investment Advice, was published in the Federal Register on April 8, 2016, became effective on June 7, 2016, and has an applicability date of April 10, 2017. The PTEs also have applicability dates of April 10, 2017. The President by Memorandum to the Secretary of Labor, dated February 3, 2017, directed the Department of Labor to examine whether the final fiduciary rule may adversely affect the ability of Americans to gain access to retirement information and financial advice, and to prepare an updated economic and legal analysis concerning the likely impact of the final rule as part of that examination. This document invites comments on the proposed 60-day delay of the applicability date, on the questions raised in the Presidential Memorandum, and generally on questions of law and policy concerning the final rule and PTEs. The proposed 60-day delay would be effective on the date of publication of a final rule in the Federal Register.","action":"Proposed rule; extension of applicability date.","agencies":[{"raw_name":"DEPARTMENT OF LABOR","name":"Labor Department","id":271,"url":"https://www.federalregister.gov/agencies/labor-department","json_url":"https://www.federalregister.gov/api/v1/agencies/271","parent_id":null,"slug":"labor-department"},{"raw_name":"Employee Benefits Security Administration","name":"Employee Benefits Security Administration","id":131,"url":"https://www.federalregister.gov/agencies/employee-benefits-security-administration","json_url":"https://www.federalregister.gov/api/v1/agencies/131","parent_id":271,"slug":"employee-benefits-security-administration"}],"body_html_url":"https://www.federalregister.gov/documents/full_text/html/2017/03/02/2017-04096.html","cfr_references":[{"chapter":null,"citation_url":null,"part":2510,"title":29}],"citation":"82 FR 12319","comment_url":null,"comments_close_on":"2017-03-17","correction_of":null,"corrections":[],"dates":"Comments on the proposal to extend the applicability dates for 60 days should be submitted to the Department on or before March 17, 2017. Comments regarding the examination described in the President's Memorandum, generally and with respect to the specific areas described below, should be submitted to the Department on or before April 17, 2017.","disposition_notes":null,"docket_ids":[],"dockets":[{"supporting_documents":[{"title":"Written testimony 41 Weyn LLC 081815","document_id":"EBSA-2010-0050-1263"},{"title":"Written testimony 40 Insured Retirement Institute 081715","document_id":"EBSA-2010-0050-1262"},{"title":"Written testimony 35 PIABA Peiffer 081315","document_id":"EBSA-2010-0050-1257"},{"title":"Written testimony 34 US Securities Markets Coalition Katz 081315","document_id":"EBSA-2010-0050-1256"},{"title":"Written testimony 33 CFA Institute Rittenhouse 081315","document_id":"EBSA-2010-0050-1255"},{"title":"Written testimony 32 American Society of Appraisers Tarbell 081315","document_id":"EBSA-2010-0050-1254"},{"title":"Written testimony 31 Managed Funds Association Kaswell 081315","document_id":"EBSA-2010-0050-1253"},{"title":"Written testimony 30 The Committee for the Fiduciary Standard McBride 081315","document_id":"EBSA-2010-0050-1252"},{"title":"Written testimony 27 Center for American Progress Valenti 081215","document_id":"EBSA-2010-0050-1249"},{"title":"Written testimony 25 Association for Advanced Life Underwriting Callahan 081215","document_id":"EBSA-2010-0050-1247"}],"agency_name":"EBSA","documents":[{"comment_count":337613,"comment_start_date":"2017-03-02","updated_at":"2023-02-28T19:20:54.161-05:00","comment_url":"https://www.regulations.gov/commenton/EBSA-2010-0050-3491","allow_late_comments":null,"id":"EBSA-2010-0050-3491","comment_end_date":"2017-04-18","regulations_dot_gov_open_for_comment":false}],"supporting_documents_count":41,"id":"EBSA-2010-0050","title":"Definition of the Term Fiduciary; Conflict of Interest Rule - Retirement Investment Advice; Best Interest Contract Exemption; etc."}],"document_number":"2017-04096","effective_on":null,"end_page":12326,"executive_order_notes":null,"executive_order_number":null,"explanation":null,"full_text_xml_url":"https://www.federalregister.gov/documents/full_text/xml/2017/03/02/2017-04096.xml","html_url":"https://www.federalregister.gov/documents/2017/03/02/2017-04096/definition-of-the-term-fiduciary-conflict-of-interest-rule-retirement-investment-advice-best","images":{},"images_metadata":{},"json_url":"https://www.federalregister.gov/api/v1/documents/2017-04096?publication_date=2017-03-02","mods_url":"https://www.govinfo.gov/metadata/granule/FR-2017-03-02/2017-04096/mods.xml","not_received_for_publication":null,"page_length":8,"page_views":{"count":19579,"last_updated":"2026-04-23 10:15:05 -0400"},"pdf_url":"https://www.govinfo.gov/content/pkg/FR-2017-03-02/pdf/2017-04096.pdf","presidential_document_number":null,"proclamation_number":null,"public_inspection_pdf_url":"https://public-inspection.federalregister.gov/2017-04096.pdf?1488375956","publication_date":"2017-03-02","raw_text_url":"https://www.federalregister.gov/documents/full_text/text/2017/03/02/2017-04096.txt","regulation_id_number_info":{"1210-AB79":null},"regulation_id_numbers":["1210-AB79"],"regulations_dot_gov_info":{"supporting_documents":[{"title":"Written testimony 41 Weyn LLC 081815","document_id":"EBSA-2010-0050-1263"},{"title":"Written testimony 40 Insured Retirement Institute 081715","document_id":"EBSA-2010-0050-1262"},{"title":"Written testimony 35 PIABA Peiffer 081315","document_id":"EBSA-2010-0050-1257"},{"title":"Written testimony 34 US Securities Markets Coalition Katz 081315","document_id":"EBSA-2010-0050-1256"},{"title":"Written testimony 33 CFA Institute Rittenhouse 081315","document_id":"EBSA-2010-0050-1255"},{"title":"Written testimony 32 American Society of Appraisers Tarbell 081315","document_id":"EBSA-2010-0050-1254"},{"title":"Written testimony 31 Managed Funds Association Kaswell 081315","document_id":"EBSA-2010-0050-1253"},{"title":"Written testimony 30 The Committee for the Fiduciary Standard McBride 081315","document_id":"EBSA-2010-0050-1252"},{"title":"Written testimony 27 Center for American Progress Valenti 081215","document_id":"EBSA-2010-0050-1249"},{"title":"Written testimony 25 Association for Advanced Life Underwriting Callahan 081215","document_id":"EBSA-2010-0050-1247"}],"comments_count":337613,"agency_id":"EBSA","comments_url":"https://www.regulations.gov/docketBrowser?rpp=50&so=DESC&sb=postedDate&po=0&dct=PS&D=EBSA-2010-0050","supporting_documents_count":41,"docket_id":"EBSA-2010-0050","document_id":"EBSA-2010-0050-3491","regulation_id_number":"1210-AB79","title":"Definition of the Term Fiduciary; Conflict of Interest Rule - Retirement Investment Advice; Best Interest Contract Exemption; etc.","checked_regulationsdotgov_at":"2023-03-01T00:20:53Z"},"regulations_dot_gov_url":null,"significant":null,"signing_date":null,"start_page":12319,"subtype":null,"title":"Definition of the Term “Fiduciary”; Conflict of Interest Rule-Retirement Investment Advice; Best Interest Contract Exemption (Prohibited Transaction Exemption 2016-01); Class Exemption for Principal Transactions in Certain Assets Between Investment Advice Fiduciaries and Employee Benefit Plans and IRAs (Prohibited Transaction Exemption 2016-02); Prohibited Transaction Exemptions 75-1, 77-4, 80-83, 83-1, 84-24 and 86-128","toc_doc":"Definition of Term Fiduciary; Conflict of Interest RuleRetirement Investment","toc_subject":null,"topics":["Employee benefit plans","Fiduciaries","Investments","Pensions","Reporting and recordkeeping requirements","Securities"],"type":"Proposed Rule","volume":82}