From: Investment News
Putting together a new cost-benefit analysis could be tricky for DOL staff, who spent the last six years working on a regulation that already was assessed and has been upheld by three court decisions so far
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While the new administration tries to find its footing, the April 10 implementation date for the DOL rule, which raises investment advice standards in retirement accounts, is bearing down. A DOL proposal to delay the applicablity of the rule, likely for 180 days, has been filed at the Office of Management and Budget, whose new director, former Rep. Mick Mulvaney, was just confirmed by the Senate on Thursday. That delay proposal, not yet approved, will probably come with its own two-week comment period.
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But as the staff forges ahead, the permanent DOL and OMB bureaucracy continues to listen to participants in the fiduciary debate.