From: Investment News
One observer says agency is trying to give certainty to markets; another asserts it is executing pre-determined course to water down regulation
The Office of Management and Budget has approved a proposal to delay for 18 months implementation of the remaining provisions in the Labor Department’s fiduciary rule.
The OMB made its determination on Monday and posted the decision on its website on Tuesday, taking only a fraction of the 90 days that it could have had to review the proposal, which was submitted by DOL on Aug. 9.