Senators seek delay in DOL's proposed fiduciary rules

08/6/2013 | InvestmentNews (free registration)

Ten Senate Democrats have written to the Office of Management and Budget urging the Obama administration to delay a fiduciary-rule proposal from the Department of Labor. The senators want the rule delayed until after the Securities and Exchange Commission makes its final decision on its proposed fiduciary standard. "We remain very concerned that uncoordinated efforts undertaken by the agencies could work at cross-purposes in a way that could limit investor access to education and increase costs for investors, most notably Main Street investors," according to the letter. Learn more at SIFMA's DOL Fiduciary Standard Resource Center.

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