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A “Must Read” on the DOL Fiduciary Rule…

One of the most compelling and well-received presentations at the Alliance’s Executive Summit held in Chicago earlier this month was one we added to the program at the last minute.  Brad Campbell of the DrinkerBiddle law firm (an Alliance associate member) delivered an insightful 30-minute address on the Department of Labor’s controversial Fiduciary Rule – most of which had been officially been placed on a 60-day delay only the day before.  Brad then took another 30-minutes of questions (which could have easily been extended to 60-minutes) about the rule’s applicability to fraternal organizations and their field representatives.

Brad and his colleague, Joshua Waldbeser, followed up that presentation by preparing this Client Alert about what fraternals need to know – and do – to get ready for the potential implementation of the rule on June 9.  This is a “must read” for every society executive and field manager.  Despite what you may have heard, the Fiduciary Rule does apply to fraternals and it is likely that significant provisions of the original rule – specifically the “Best Interest Contract Exemption” – will be enacted later this year.  That means you’ll be required to comply with those provisions, and that you should begin to prepare for that requirement right now.

The DrinkerBiddle Client Alert is an excellent way to begin that process.  Want more information?  Joshua Waldbeser will be a featured speaker at the Alliance’s Spring Symposium next month and registrants will have the chance to hear the latest news on the rule’s implementation and ask him questions about fraternal compliance with the measure.  That alone may be worth the price of admission. Click here to register.


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