DOL Sends Fiduciary Rule To OMB
February 1, 2016 by John Hilton
The Department of Labor sent its fiduciary rule to the Office of Management and Budget Thursday, signifying its intent to publish a rule before President Barack Obama leaves office.
OMB can take up to 90 days to review the rule, during which time the contents remain under wraps. After the agency signs off, the DOL will release the final rule publicly.
OMB reviews do not typically require the entire 90 days. The timeline means the DOL can publish the rule by mid-April, which will be followed by an eight-month implementation period.
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