The US Labor Department rejected a request from several retirement industry groups to grant them more time to comment on a controversial proposed rule to widen the department’s strict fiduciary standards of conduct.
Assistant Secretary for Employee Benefits Security Lisa M. Gomez sent the Securities Industry and Financial Markets Association a letter Tuesday saying the department “does not intend” to extend comments on the proposal, nor delay a public hearing on the rule now scheduled to begin on Dec. 12.
The Employee Benefits Security Administration crafted the fiduciary rule using input it received from public engagement on prior iterations of ...
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