18 Trade Groups Press DOL to Extend Fiduciary Rule Comment Period

November 14, 2023 by Melanie Waddell

Eighteen financial services trade groups pressed the Labor Department Wednesday to extend the 60-day comment period on its new fiduciary rule, the Retirement Security Rule, and amendments to the prohibited transaction exemptions, as the plan “makes significant and unanticipated changes to the current regulatory framework.”

The proposed rule “will require significantly more time for meaningful analysis and comment,” the groups said, noting that they need more time “to understand how this proposal would impact access and choice for retirement savers.”

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Originally Posted at Think Advisor on November 8, 2023 by Melanie Waddell.