March 16, 2016

DOL, OMB May Blunt Fiduciary Rule, Delay It Until Late May




OMB will use the extra 30 days because of the importance of the regulation and the number of parties participating in its appraisal, the source said. During the review period, the Office of Information and Regulatory Affairs (OIRA) division of OMB consults with DOL and other White House entities such as at the Council of Economic Advisors, National Economic Council, and Domestic Policy Council.

These parties analyze possible impacts of the regulation and negotiate proposed changes before the rule is finalized. OIRA will adjudicate the comments from the other White House entities before approving the final regulation.

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