Many believe it is aimed at broker-dealers, but they could be in for a rude awakening
The left side of the aisle is likely to hold together well enough to ensure the rule is modified rather than taken off the books.
The architect of the Department of Labor fiduciary regulation claims it is already paying dividends by lowering costs for investors — and isn't going away.
The insurance industry group wants the April 10 applicability date of the rule extended while it pushes the case up the court chain.
Decision comes a little more than two weeks after a DC district judge also denied a preliminary injunction by an insurance group.
Under the regulation, any employee who makes less than $47,476 annually will earn overtime pay.
Instead of proposing new regulations or legislation to kill it, the new administration could simply stop fighting several lawsuits brought against the rule. <b><i>(More: <a href="//www.investmentnews.com/section/fiduciary-focus"" target=""_blank"" rel="noopener noreferrer">The most up-to-date information on the DOL fiduciary rule</a>)</i></b>
Broker-dealer says the additions are part of a continued expansion of their presence in the North and Northwest.
But chief regulator will continue to carry out current agenda until she steps down when Obama leaves office.
