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Labor Department headquarters in Washington. (Photo: Mike Scarcella/ALM) Labor Department headquarters in Washington. (Photo: Mike Scarcella/ALM)

During the first day-long public hearing on its fiduciary prohibited transaction exemption to align with the Securities and Exchange Commission’s Regulation Best Interest, the Labor Department heard from panels of officials, some of whom called for further changes to it, as well as for Labor to defer final rulemaking until Reg BI effectiveness can be determined.

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Melanie Waddell

Melanie is Washington Bureau Chief, Investment Advisory Group. She also covers regulatory and compliance issues. Her column, The Playing Field, appears in Investment Advisor and on ThinkAdvisor.com, and she also writes the briefing and produces the podcast, Human Capital. Earlier in her career, Melanie covered financial issues at American Banker/Thomson Media publications in Washington and New York. You can reach her at [email protected] On twitter: @Think_MelanieW

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