This week, opponents of the Department of Labor's proposed fiduciary rule are "vigorously advocating" for a rider to the omnibus spending bill that would require the agency to open an additional comment period before publishing a final rule, according to a letter from the Financial Planning Coalition to members of Congress.
But requiring a new comment period would effectively prevent the DOL from finalizing a fiduciary rule before the end of the Obama Administration, argues the FPC, which advocates on behalf of a uniform fiduciary standard of care for all investment advisors.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
