President Donald Trump’s executive order to delay implementation of the Department of Labor’s fiduciary rule will likely come as soon as Friday or next week, according to an industry source.
The executive order that’s expected to be issued by Trump could delay the rule’s implementation six months or a year, the source said.
“People are confident a delay for at least a year is imminent, but not guaranteed,” the source said.
Rep. Joe Wilson, a member of the House Committee on Education and the Workforce, introduced a bill on Jan. 6 to delay the implementation of the fiduciary rule by two years.
Labor’s “fiduciary rule is one of the most costly, burdensome regulations to come from the Obama administration,” Wilson, R-S.C., said in a statement introducing the bill.