OMB Takes Some More Meetings on Fiduciary Regulation

Having received the final rule on its proposed extension of the applicability date from the Labor Department, the Office of Management and Budget has scheduled a couple of meetings related to that review.

According to an update on the OMB’s website, the agency had meetings on March 31 with the Consumer Federation of America, PIABA (Public Investors Arbitration Bar Association, which describes itself as “the largest U.S. organization of lawyers who represent investors in arbitrations against their stockbrokers”), and on April 3 with AARP and the Certified Financial Planner Board of Standards, Inc. – all strong and vocal proponents of the current version of the Labor Department’s fiduciary regulation, whose current applicability date of April 10 is less than a week away.

Not that it’s likely to remain unchanged.

Stay tuned.

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