DOL fiduciary rule survives omnibus bill
December 18, 2015 by Nick Thornton
On Tuesday night, the Department of Labor’s proposed fiduciary rule survived what many viewed as a significant threat when the U.S. House of Representatives released next year’s omnibus spending bill.
No defund rider, no alternative legislation, no required new comment period
Missing from the more than 1,000-page bill document was a rider that would defund Labor’s ability to implement a new rule.
Also missing was alternative legislation that would water down the proposed rule’s Best Interest Contract Exemption. Click HERE to read article….