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Fiduciary Proposal Comment Period Closing

If you have comments on the Labor Department’s fiduciary reproposal, you only have a couple of weeks to share them.

The DOL announced Sept. 8 that the public comment period will close on Thursday, Sept. 24, 2015, and that no hand-delivered comments will be accepted after 6:00 p.m. ET on that date.

The Labor Department previously announced that the public comment period would end two weeks after EBSA posted the transcripts of the four-day long public hearing on the its conflict-of-interest proposed regulatory package online, which it did Sept. 8.

In announcing the publication, the DOL said it welcomed comments on the testimony presented and the dialogue between witnesses and the government panel at the hearing. The Labor Department also highlighted three research reports released on Aug. 26, 2015 (and, it should be noted, supportive of its position on the reproposal):


  • “Comments on a Review of a White House Report on Conflicted Investment Advice” by Constantijn W.A. Panis (2015)

  • “Financial Advice Markets: a Cross-Country Comparison” by Jeremy Burke and Angela A. Hung (2015)

  • “Effective Disclosures in Financial Decision Making” by Angela A. Hung, Min Gong and Jeremy Burke (2015)


Additionally, the DOL noted that a fourth report by RAND, “Do Financial Advisers Influence Savings Behavior?”, released contemporaneously with the posting of the transcripts. All four research reports are posted on EBSA's website here.

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