The U.S. Labor Department’s fiduciary rule could be delayed “within days” of the new Trump administration, David Hirschmann, president and CEO of the U.S. Chamber of Commerce’s Center for Capital Markets Competitiveness, said Wednesday.
“There’s no one mechanism to achieve delay” in the rule’s implementation,” Hirschmann said, noting potential action from the Labor Department itself, directives from the White House and pending court cases. The rule, an Obama administration construct that was years in the making, seeks to mitigate conflicts of interest in the retirement advice market.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
