The Department of Labor announced it will delay the
implementation date for the fiduciary rule until July 1, 2019. The
decision gives investment firms more time to comply with the
regulation, which was previously set to take effect on Jan. 1, 2018
and has been criticized by many in the industry as being overly
expensive and burdensome. The Labor Department filed the extension
with the Office of Management and Budget as part of a broad review
of the regulation requested by President Donald Trump.
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