Labor Department postpones fiduciary rule until January

05/28/2014 | Reuters

The Department of Labor says it will postpone release of a revised fiduciary rule until January. The proposal, originally slated for August, has been controversial because it would require brokers who advise on retirement plans and individual retirement accounts to act as fiduciaries. There are also concerns that the rule could clash with a proposal that the Securities and Exchange Commission is discussing.

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