DOL Publishes Delay of Fiduciary Rule Until July 2019

September 5, 2017 by John Hilton

The Federal Register will publish a proposed rule tomorrow to delay phase two of the Department of Labor fiduciary rule by 18 months to July 1, 2019.

Delay documents were announced Aug. 9, but inched closer to becoming official this week when the Office of Management and Budget completed its review and did not change the dates. OMB announced that it changed something with the rule, but legal experts say we might never know what the agency did.

“Unfortunately, they don’t need to tell us what changes OMB recommended that DOL subsequently incorporated,” said Erin Sweeney, a lawyer with Miller & Chevalier in Washington, D.C.

Click HERE to read the full story via INN; subscription required.

Originally Posted at InsuranceNewsNet on August 30, 2017 by John Hilton.