OMB Holds Meetings on Fiduciary Rule
The Office of Management and Budget (OMB) has scheduled a series of meetings with interested parties to discuss the Department of Labor’s (DOL) proposal to delay the implementation of the fiduciary regulation.
Less than two weeks ago the DOL’s Employee Benefit Security Administration (EBSA) sent documents to the Office of Management and Budget for approval. While the details of the proposal are not yet public, the title of the filling as shown on the OMB’s website indicates it is a proposed regulation to delay the fiduciary regulation’s April 10 applicability date. Various reports have speculated that the delay will be for 180 days.
OMB just recently got a new director, former Rep. Mick Mulvaney (R-S.C.). This may help in speeding up the review process.
The scheduled meetings currently listed on the OMB site are:
02/22/2017 01:00 PM
Requestor: Better Markets
02/22/2017 03:30 PM
Requestor: Siegel Public Affairs
02/21/2017 02:00 PM