Workflow changes are a big challenge of the fiduciary rule, says Aite report
UPDATE: U.S. jobless claims edge up 3,000 to 241,000
U.S. Jobless Claims Rose Last Week
As some provisions are implemented, the regulation's future remains a mystery. ( More: FAQs shed light on nuts and bolts of DOL rule )
A request for information sent yesterday to the Office of Management and Budget is the first step in reviewing the rule, Mr. Acosta said. Plus, Investment Adviser Association members take complaints about DOL rule to Capitol Hill .
The organization supports the underlying goals of the DOL rule, but thinks it should be "more appropriately tailored" to investment advisers.
Many advisers are embracing an exemption they've frequently derided, even though a less-contentious one is available for annuity sales.
Mr. Lew, who served under the Obama administration from 2013 through the start of 2017, acknowledged the rule has "unintended consequences."
InvestmentNews senior reporter Mark Schoeff Jr. gets the skinny on the next phase of the fiduciary rule's rollout.
Biggest concern is threat of excessive litigation due to best-interest contract exemption.