Comments Flood DOL on Fiduciary Rule Delay

March 14, 2017 by John Hilton

Comments are again pouring in to the Department of Labor arguing for and against its controversial fiduciary rule.

As of the close of business Wednesday, the DOL posted 285 comments on a request to delay the rule’s April 10 applicability date by 60 days. President Donald J. Trump ordered the department to seek a delay in a Feb. 3 memorandum.

Republicans control the White House, as well as both chambers of Congress, and are intent on killing the Obama administration regulation. The fiduciary rule requires anyone selling financial products with retirement dollars to adhere to a strict best-interest standard, or face class-action liability.

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Originally Posted at InsuranceNewsNet on March 9, 2017 by John Hilton.