Editor’s Note: Those indivduals who are interested in having the said rule reproposed should break the government monopoly over the docket subsequent to the close of the public comment period by developing a “shadow docket” based on the concept of an Interactive Public Docket (IPD) developed by the Center for Regulatory Effectiveness.
An IPD for the “definition of fiduciary” would consist of a new Discussion Forum contained in the right hand side of this page. Affected stakeholders would continue to provide up to date information on the DOL proposal while DOL is working on the rule. CRE would make periodic submissions to the DOL based upon information received in the IPD. Most recently CRE used the IPD to obtain substantial changes in the FHFA rule dealing with transfer fees.