Announcement Regarding the Impending DOL Fiduciary Rule and CreativeOne
Will President Trump delay or kill the DOL fiduciary rule? Our Washington D.C. contacts indicate a delay of the rule is imminent. The White House has ordered a “freeze” on all recently proposed or pending regulations issued under the Obama administration. However, until the DOL issues an official delay of the fiduciary rule, we’re still marching toward the April 10 compliance date.
CreativeOne is monitoring regulatory updates to the rule as April 10 approaches. One important development is the proposed IMO exemption released by the DOL on January 18. This exemption would allow qualifying IMOs to serve as your approved financial institution (FI). You must have an approved FI to keep selling qualified funds under the rule.
IMO Exemption Track
The major requirement for this proposed IMO exemption is qualifying IMOs must have annual average sales of at least $1.5 billion over the last three years.
CreativeOne meets the above sales requirement should we decide to utilize the IMO exemption pathway. In addition, we are fortunate to have two other DOL compliance pathways for you as approved FIs. No matter what the outcome of the fiduciary rule, we have you covered.
In these ever-changing regulatory times, we hope you know you are well positioned with CreativeOne as your Agent Development Organization (ADO) partner. We are advocates for you, and will serve you through whatever marketplace changes may arise.
For more information on the fiduciary rule, contact your dedicated annuity sales team or check out:
FOR FINANCIAL PROFESSIONAL USE ONLY. NOT FOR USE WITH GENERAL PUBLIC.
CP-0891 – 2017/2/1