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President Trump Mandates Reconsideration of DOL Fiduciary Rule
Shearman & Sterling LLP Feb. 6, 2017 "The Memorandum does not provide a deadline by which the DOL must complete its analysis, and it is unlikely that the DOL could complete its review before April 10 ... One avenue to delay would be through a proposed rule subject to notice and comment. The DOL may determine, however, that the President's Memorandum requiring an updated economic and legal analysis provides the department with 'good cause' to avoid notice and comment.... Congress may also weigh in directly on the rule through legislation ... [T]here are also a number of court cases pending against the rule." |
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