Frederick S. Lamb's painting of William Penn at the Brooklyn Museum. William Penn (14 October 1644 â 30 July 1718) was the son of Sir William Penn, and was an English real estate entrepreneur, philosopher, early Quaker, and founder of the Province of Pennsylvania, the English North American colony and the future Commonwealth of Pennsylvania.
The final rule also contains significant changes that reflect the extensive public comments on the proposed rule received by the DOL. Read our in-depth analysis about the final rule. Effective Date: June 7, 2016 (60 days after the scheduled Federal Register publication date of April 8)
The proposed DOL rule imposing a fiduciary obligation on all advisors to retirement plans is long overdue. While you can expect the securities industry to fight any such rule to the bitter end, as it did successfully in 2010, hopefully fairness, logic and decency will prevail this time. The hidden provision.n my view, this exemption is as significant â if not more so â than the proposed rule itself. Background of the fiduciary rule. Few retirement plan participants are aware their trusted advisors may not be fiduciaries..