The Labor Department's recently issued request for information will support the agency's ongoing economic and legal analysis of the fiduciary rule, which was ordered by President Trump.
In short, the Trump administration's Labor Department wants additional input from stakeholders regarding "possible additional exemption approaches" and overall changes to the rule.
Regulators also want input as to whether the January 1, 2018 scheduled applicability date for the rule's major prohibited transaction exemptions should be further delayed.
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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.
