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In a move consistent with the broad deregulatory agenda of the Trump administration the DOL has filed to delay the date for implementing the final part of its retirement-account fiduciary rule by 18 months, giving it and critics more time to modify or repeal some of its controversial provisions.
The delay is “a positive development that may reduce some of the harm the regulation is already causing in reducing middle class savers’ options for their [retirement and savings accounts],” said John Berlau, financial policy expert at the Competitive Enterprise Institute in Washington. Glenn Schorr, an analyst at Evercore ISI in New York, wrote in a research note that the delay – if approved – “significantly increases the likelihood the Fiduciary Rule gets diluted or destroyed.”
https://www.ft.com/content/803490d5-f3d0-3d83-bc33-117a2d707e37
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