DoL

Postponement serves no purpose, because honest consideration will not change the regulation.

Big firms are asking for more time, while investors and even some advisers are asking the Labor Department to keep the rule intact.

A higher standard of client care can still be enforced in the marketplace, fiduciary supporters say.

With an eye toward potential repeal, Alexander Acosta told senators that he will abide by President Trump's executive memorandum and review the rule's impact.

If Acosta is confirmed, one of his most immediate decisions will be how to handle the Obama-era regulation. Labor department officials say they expect him to bring a conservative approach.

As executives accept Trump's fiduciary rule delay, many have shifted their focus to the SEC's new reporting modernization regulation.

One planner says there's no reasonable basis for a delay, while another says he can't afford all the compliance costs.

Market forces have wrought changes that can't be repealed, according to champions of the rule.

Andy Sieg, head of the firm, had previously indicated that he was open to rethinking aspects of the firm's efforts to comply with the regulation.

The firm is one of the first to issue a formal comment letter on the Department of Labor's proposal to put off the regulation's implementation date.