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DOL Gets Flood Of Letters On Fiduciary Rule Delay

Law360, New York (March 17, 2017, 5:50 PM EDT) -- As the comment period closed Friday on the U.S. Department of Labor’s proposal to delay the upcoming applicability date of its fiduciary rule for retirement advisers, the agency received hundreds of letters from industry and advocacy groups and individual investors both for and against the delay.

After President Donald Trump in February directed the agency to review the fiduciary rule to ensure it doesn’t harm investors by reducing access to certain retirement savings offerings, the agency issued a proposal at the beginning of March to delay the rule by 60 days or more. Although the rule technically took effect last June,...

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