Labor Secretary Alexander Acosta (Photo: Diego Radzinschi)

Meanwhile, NAFA asks judge to delay Dec. 8 oral argument, while Thrivent wins some relief from anti-arbitration rules under BICE

The Labor Department will likely be cleared in three weeks to officially delay the full implementation of its fiduciary rule, Labor Secretary Alexander Acosta told a federal court in Minnesota on Thursday in a court filing.

“Typically administrative actions such as these take three weeks from the time of review by [the Office of Management and Budget] to be published as final,” Labor told the court handling Thrivent Financial for Lutherans’ case against the Labor Department over the fiduciary rule.

Meanwhile, the National Association for Fixed Annuities asked the U.S. Court of Appeals for the D.C. Circuit on Monday to delay the Dec. 8 oral arguments in NAFA’s appeal over a federal court’s denial of its bid to block the fiduciary rule.

On Wednesday, Labor filed with the OMB the official 18-month delay of its fiduciary rule.

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