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April 04, 2017 at 08:34 AM
A Department of Justice filing on April 3 indicates that the Department of Labor will officially institute a delay of its fiduciary rule Wednesday morning.
DOJ told the U.S. Court of Appeals for the Fifth Circuit that the Office of Management and Budget review of Labor’s draft rule is “nearly complete,” and that Labor anticipates that the final rule will be transmitted to the Office of the Federal Register on Tuesday.
Labor, DOJ said, has requested that the rule be made “publicly available” Wednesday morning and published in the Federal Register no later than April 7.
Labor sent to OMB on March 29 its final rule requesting a 60-day delay to the implementation date of its fiduciary rule.
The rule must be approved by OMB. Once approved, it will be sent back to Labor for publication in the Federal Register.
