Skip to content
Subscriber Only

Labor Department Will Delay Its Fiduciary Rule, Borzi Says

The U.S. Labor Department is delaying a rule designed to make investment advisers more accountable for the advice they give to employers and individuals in retirement plans, Assistant Secretary of Labor Phyllis Borzi said in a conference call today.

“We honestly weren’t as clear as we could have been and we’re trying to fix that,” said Borzi. “We’ve also been working closely with the White House and they’ve approved our decision to move forward in this fashion.”