OMB Ponders Legal Implications of DOL Rule Delay: Sources
February 24, 2017 by John Hilton
The Office of Management and Budget is taking a more measured approach to reviewing the Department of Labor’s request for a delay of its controversial fiduciary rule.
The delay was expected to be finalized this week by OMB, but several sources said the office is concerned that pro-rule groups will sue if the rule delay is not thoroughly vetted.
“It would not be a surprise at all if that’s what follows,” Knut Rostad said of the counter-lawsuit potential. Rostad is co-founder of the pro-rule Institute for The Fiduciary Standard.
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