May 24, 2019

DOL to revisit fiduciary rule by December

Editor’s Note: See also  The Future Of The Fiduciary Rule Is In OIRA’s Hands.

From: Pensions & Investments

By Hazel Bradford


The agenda, published by the Office of Management and Budget’s Office of Information and Regulatory Affairs for all federal agencies, projects a December release date for advanced notice of proposed rule-making, the first step in issuing new rules.

DOL issued a revised fiduciary rule in April 2016 to replace one from 1975, but it was vacated by the 5th U.S. Circuit Court of Appeals in New Orleans in March 2018, on the grounds that it represented regulatory overreach. “The department is considering regulatory options in light of the 5th Circuit opinion,” the OMB notice said.

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