Industry observers have been wondering when the Department of Labor (DOL) will issue its new fiduciary rule–a replacement for the Obama-era rule that the 5th Circuit Court of Appeals struck down in March 2018–ever since the SEC passed its Regulation Best Interest last year.

The time clock became even more of an issue when Congress passed the SECURE Act late last year that aims, among many other provisions, to promote annuities in retirement plans and to urge small businesses to create retirement programs.  If the Administration does not act quickly, experts warn, then a revised DOL rule may not be in place prior to the 2020 presidential election, and a Democratic president could be less supportive.

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