Any effort to delay the June 9 implementation date of the Labor Department's fiduciary rule will face significant procedural obstacles and potential legal challenges, according to one administrative law expert.
"It's not impossible to propose a new delay before the June 9 deadline, but there are substantial hurdles to doing so," Bethany Davis Noll, an attorney with the Institute for Policy Integrity at the New York University School of Law, said.
One hurdle is timing. The first 60-day delay of the rule took about five weeks from start to finish. A little more than three weeks remain before June 9.
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