by Brad Campbell and Fred Reish
As you may know, the Department of Labor has included the proposal of a new fiduciary rule on its Regulatory Agenda. The Agenda indicated that it would be issued in December of last year. But, of course, it hasn’t.
That raises the question of, if we get a proposed regulation in the near future, will it ever become a final rule?
Of course, if the current Administration wins the Presidential election, the proposed regulation would ultimately be adopted in final form (perhaps with some minor changes). However, if the White House changes parties after this November’s election, there may not be enough time for a regulation to be proposed and finalized. Here’s why.
There are several ways that a new, incoming Administration can stop a regulation from the prior Administration.