The US Labor Department has notified the Office of Management and Budget that it is proposing to delay full applicability of the fiduciary rule to July 1, 2019, and to change three exemptions in the rule. Labor Secretary R. Alexander Acosta disclosed the action in a court document in connection with a lawsuit brought against the department by Thrivent Financial for Lutherans.
Labor Dept. fiduciary rule could be postponed 18 months
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