The White House issued a Presidential Memorandum requiring the Department of Labor to take a second look at its “fiduciary rule.” The Memorandum directs the DOL to prepare an updated economic and legal analysis of the rule to determine whether, among other things, it may adversely affect the ability of Americans to gain access to retirement information and financial advice.
Following the completion of the analysis, the Memorandum states that the DOL is to consider whether it is appropriate to publish for notice and comment a proposed rule rescinding or revising the rule.
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