The Labor Department’s effort to delay the January 1, 2018 implementation date for the fiduciary rule by 18 months will have to be opened for public comment after the Office of Budget and Management reviews the proposal, according to several stakeholders.
OMB’s review of the rule could take up to 90 days, as it meets with and considers input from both proponents and opponents of the overall rule.
That process is expected to be exhaustive.
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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.
