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'Poof, it's gone!' DOL quietly strips two heavy lifts from the fiduciary rule as it makes delay official

The Department of Labor effectively makes the 60-day delay into a 270-day one as part of document that was supposed to only formalize the postponement until June 7

Author Brooke Southall
April 5, 2017 at 7:41 PM
no description available
Marcia Wagner: [It] essentially eliminates the need for transition agreements, disclosures and certain structural changes -- such as the appointment of a BICE officer -- that were formerly required to be in place on the applicability date.

Related Moves

Second Betterment exec departs as new CEO Sarah Levy orients to her first month on the job and is confronted by personnel matters

Chief operating officer Dustin Lucien is the latest to leave the New York City robo-advisor, one of at least eight positions open as it prepares a push across multiple business lines to ignite growth.

January 19, 2021 at 6:32 PM

Jon Stein ousts himself as Betterment CEO and taps Sarah Levy, who joins an exclusive club of top women executives, with a mission -- an IPO

The co-founder of the New York robo-advisor headhunted the ex-Viacom brass through Harvard professors on the down low to ostensibly scale operations.

December 8, 2020 at 5:27 PM

Mentioned in this article:

Pension Resource Institute, LLC
Compliance Expert
Top Executive: Jason C. Roberts

Betterment, LLC
Financial Planning Software
Top Executive: Jon Stein

Retirement Law Group, PC

Top Executive: Jason C. Roberts

Kyle Simmons

Kyle Simmons

April 5, 2017 — 9:16 PM
Any chance you could settle on the title before publishing? It seems I get 3-4 copies of each article with a slightly changed title in my RSS feed every time a new article is posted.
brooke southall

brooke southall

April 5, 2017 — 9:32 PM
Kyle, Sorry about that! I'll try to be more decisive. Today must have been particularly ugly in that RSS regard. -Brooke

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