The Labor Department plans to hold a hearing on its proposed fiduciary rule that aims to align with the Securities and Exchange Commission’s Regulation Best Interest, according to a notice in the Federal Register.
A Labor spokesperson confirmed to ThinkAdvisor in a late Friday afternoon email message that a hearing is planned.
The notice states that Labor intends to hold the hearing on Sept. 3 and, if necessary, Sept 4.
Sen. Patty Murray, ranking member on the Health, Education, Labor and Pensions Committee, asked Labor on July 14 to hold a hearing, but was denied that request by Joe Wheeler, deputy assistant secretary for Labor, on Aug. 6.