The Department of Labor has sent to the Office of Management andBudget its final rule requesting a 60-day delay to theimplementation date of its fiduciary rule.
The rule must be approved by OMB. Once approved, it willbe sent back to Labor for publication in the Federal Register.
Labor announced on March 1 its proposed rule to extend for 60days — from April 10 to June 9 — the applicability dateof its fiduciary rule under the Employee Retirement Income SecurityAct.
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