Enactment of the Department of Labor’s conflict of interest rule last year represented the most significant advance in investor protection for working families and retirees in at least a generation. Although financial firms and their lobbyists fought hard to prevent the rule from being adopted, since then the majority of firms have been working in good faith to implement it, and have done so in ways that are already delivering tangible benefits to retirement savers. We remain convinced that, if the Department fairly evaluates the rule and its impact on retirement savers, the only reasonable conclusion will be that the rule and accompanying prohibited transaction exemptions (PTEs) should be implemented as drafted without further delay.