The Department of Labor's fiduciary rule could be delayed "within days" of the new administration through action taken by Labor, instructions from the White House, or pending court cases, David Hirschmann, president and CEO of the U.S. Chamber of Commerce's Center for Capital Markets Competitiveness, said Wednesday. "There's no one mechanism to achieve delay" in the rule's implementation.
Speaking to reporters at the Chamber's 2017 State of American Business Address in Washington, Hirschmann said the rule could be halted before legislation is passed.
Rep. Joe Wilson, R-S.C., a member of the House Committee on Education and the Workforce, introduced on Jan. 6 a bill to delay the rule's implementation by two years.
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