Acosta to Meet with Fiduciary Rule Opponents

Labor Secretary Alexander Acosta will meet Sept. 5 with representatives of companies that oppose the Obama administration’s fiduciary rule, according to a published report.

Politico Pro, citing two sources familiar with the matter, says the meeting at the Labor Department will include representatives from Edward Jones, UBS, Ameriprise, State Farm, Jackson National Life Insurance Company, Putnam Investments, Lincoln Financial Group, MassMutual and Empower Retirement.

The meeting comes just a week after a proposed delay from the Labor Department in the applicability date for the full Best Interest Contract Exemption (BICE) until July 1, 2019.

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