Any effort to delay the June 9 implementation date of the Labor Department's fiduciary rule will face significant procedural obstacles, and potential legal challenges, according to one administrative law expert.
"It's not impossible to propose a new delay before the June 9 deadline, but there are substantial hurdles to doing so," said Bethany Davis Noll, an attorney with the Institute for Policy Integrity at the New York University School of Law.
One hurdle is timing. The first 60-day delay of the rule took about five weeks from start to finish. A little more than three weeks remain before June 9.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
