PHOENIX ― The Department of Labor's 60-day postponement of the fiduciary rule ― just a week before the regulation was due to be implemented ― may have created more problems for the industry than it solved.
On one side, fiduciary advocates are pushing back, arguing that the regulation is a much needed investor protection that can't be delayed. On the other, opponents are concerned the delay doesn't give the department time to conduct the review ordered by President Trump. Moreover, if the regulation is revised, some firms are concerned they will have to adapt compliance systems yet again, and on short notice.
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