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DOL fiduciary rule arrives at OMB

January 29, 2016

A Labor Department rule that would raise investment advice standards for retirement accounts took its last step toward finalization Thursday night

Jan 29, 2016 @ 5:33 am | By Mark Schoeff Jr. |Investment News

A Labor Department rule that would raise investment advice standards for retirement accounts took its last step toward finalization Thursday night.

The DOL sent the measure to the Office of Management and Budget, whichindicated receipt of the regulation on its website Friday. The OMB has up to 90 days to review the rule, but is likely to expedite the process.

After the OMB signs off, the DOL will release the final rule publicly — perhaps as early as March and likely by April.

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