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U.S. Labor Department to delay ‘fiduciary’ rule for 60 days pending review

April 05, 2017 / Source: Reuters

The U.S. Labor Department will delay implementation of its "fiduciary" rule by 60 days while it undertakes a review on whether the rule may hinder Americans' ability to get access to retirement investment advice, according to a filing in the Federal Register.

The department's rule, which requires brokers offering retirement investment advice to act in the best interest of their customers, has been heavily criticized by Republicans and Wall Street amid concerns it may make investment advice too costly.

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