"[T]he DOL's re-proposal of its 'Definition of Fiduciary' rule must, as with all administrative rules, pass through the White House Office of Management and Budget (OMB). Even though the DOL's proposal has not yet been submitted to OMB, Wall Street's lobbyists have been visiting OMB in earnest. Yet, what about the pro-fiduciary advocates ... are they also visiting OMB? NONE HAVE. ([S]everal weeks ago [the author] scheduled a visit to OMB for early June. Yet, one business day before my visit was to occur, the OMB e-mailed me to cancel my visit, with not even an offer to re-schedule. It appears the OMB doesn't even want to hear of the substantial economic rationale for imposition of the fiduciary standard; they may already be convinced by the arguments advanced by Wall Street's lobbyists.)"

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