Business Groups Ask DOL for More Time to Respond to Fiduciary Proposal

A coalition of 18 business groups is asking the Department of Labor for a longer comment period on its proposed fiduciary rule for retirement advisors.

The groups, which include the U.S. Chamber of Commerce, Financial Services Institute, and Investment Company Institute, argue that a 60-day comment period for a major fiduciary proposal is “unprecedented,” and that the actual number of working days will be considerably shorter given that the comment period runs over multiple federal holidays.

“DOL…