DOL Sends IMO Fiduciary Rule Exemption To OMB

January 11, 2017 by Cyril Tuohy

An exemption granting independent marketing organizations financial institution status under the Department of Labor’s fiduciary rule has been sent to the Office of Management and Budget for review.

OMB has 90 days from Dec. 29 to review the details, though the review isn’t expected to take that long, an OMB official confirmed Wednesday.

Any changes requested by OMB’s Office of Information and Regulatory Affairs to the Labor Department document must be made within the 90-day period, the OMB official said.

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Originally Posted at InsuranceNewsNet on January 4, 2017 by Cyril Tuohy.