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U.S. Labor Dept proposes delay for fiduciary rule
March 1, 2017 / 3:00 PM / 7 months ago

U.S. Labor Dept proposes delay for fiduciary rule

WASHINGTON, March 1 (Reuters) - The U.S. Labor Department is seeking to delay its controversial Obama-era fiduciary rule on financial advice as it solicits public comment on the rule, according to a notice made public online on Wednesday.

The department, in a document to be published in the Federal Register on Thursday, said it was proposing to delay for 60 days the rule which requires retirement advisers to put the interests of clients ahead of their own. Currently the rule is slated to go into effect April 10.

Reporting by Susan Heavey; Editing by Linda Stern

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