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DOL Poised to Advance Final Fiduciary Rule

January 21, 2016

Politico reports the measure will move to the Office of Management and Budget by Jan. 31, setting in motion the last stages of review before finalization

Jan 20, 2016 @ 2:08 pm | By Mark Schoeff Jr. | Investment News

The Labor Department is poised to advance as early as this month a final rule that would raise investment advice standards for retirement accounts.

The agency is working to get the measure to the Office of Management and Budget for review by Jan. 31, according to a report published by Politico on Tuesday. Politico based its story on two anonymous sources “familiar with the matter.”

The OMB review could take up to 90 days, but could be expedited and finished within four-to-six weeks. Once OMB has approved the rule, it would be sent back to DOL, which would then publicly release the final rule in the spring.

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Loreen M. Gilbert, CIMA, AIF, CRC, CLTC – President, WealthWise Financial Services
Blue Vault
July 6, 2016

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