President Trump's nominee to head the Office of Management and Budget has voiced serious reservations for the Labor Department's Fiduciary rule.

In 2015, Rep. Mick Mulvaney, R-SC, told attendees at Commonwealth Financial Network's annual conference that Labor's fiduciary rule, which had yet to be finalized, was "awful," according to reporting in ThinkAdvisor, BenefitsPro's sister publication.

If confirmed as OMB director, Mulvaney will be both a chief architect of White House budgets, and will directly oversee the Office of Information and Regulatory Affairs, which is part of OMB.

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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.