The executive order President Trump has been expected to sign directs the Labor Department to delay the fiduciary rule to give the financial industry another six months to comply with the regulation, according to a draft of the order obtained by BenefitsPro.
According to the draft of the order, the Labor Department will review the rule to determine “whether it may adversely affect the ability of Americans to gain access to retirement information and financial advice.”
The order also instructs the Labor Department to execute a new economic impact analysis of the rule.
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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.
